US Capital Advisors Comments on Buckeye Partners, L.P.’s Q2 2017 Earnings (BPL)

Buckeye Partners, L.P. (NYSE:BPL) – Equities researchers at US Capital Advisors reduced their Q2 2017 earnings per share (EPS) estimates for Buckeye Partners, L.P. in a research note issued on Wednesday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $1.02 per share for the quarter, down from their prior estimate of $1.09. US Capital Advisors also issued estimates for Buckeye Partners, L.P.’s Q3 2017 earnings at $1.04 EPS, Q4 2017 earnings at $1.02 EPS, FY2017 earnings at $3.96 EPS, Q1 2018 earnings at $0.96 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.03 EPS, Q4 2018 earnings at $1.02 EPS and FY2018 earnings at $4.00 EPS.

Buckeye Partners, L.P. (NYSE:BPL) last posted its earnings results on Friday, May 5th. The pipeline company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.12. The firm had revenue of $969.30 million for the quarter, compared to analysts’ expectations of $848.34 million. Buckeye Partners, L.P. had a return on equity of 13.13% and a net margin of 16.49%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share.

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Earnings History and Estimates for Buckeye Partners, L.P. (NYSE:BPL)

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Monday, May 15th. Barclays PLC lowered their price objective on shares of Buckeye Partners, L.P. from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Monday, March 6th. SunTrust Banks, Inc. assumed coverage on shares of Buckeye Partners, L.P. in a research report on Monday, March 20th. They issued a “hold” rating and a $72.00 price objective for the company. Zacks Investment Research cut shares of Buckeye Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. Finally, Bank of America Corp cut shares of Buckeye Partners, L.P. from a “buy” rating to a “hold” rating and boosted their price objective for the company from $72.11 to $74.00 in a research report on Monday, February 13th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Buckeye Partners, L.P. presently has an average rating of “Hold” and a consensus price target of $73.20.

Shares of Buckeye Partners, L.P. (NYSE:BPL) opened at 65.15 on Friday. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 16.73 and a beta of 1.24. Buckeye Partners, L.P. has a 12-month low of $61.37 and a 12-month high of $75.10. The stock’s 50 day moving average is $67.50 and its 200-day moving average is $66.99.

Large investors have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Buckeye Partners, L.P. by 3.0% in the third quarter. Alps Advisors Inc. now owns 8,338,547 shares of the pipeline company’s stock valued at $597,040,000 after buying an additional 240,845 shares during the last quarter. Center Coast Capital Advisors LP boosted its stake in shares of Buckeye Partners, L.P. by 2.2% in the first quarter. Center Coast Capital Advisors LP now owns 3,946,163 shares of the pipeline company’s stock valued at $270,549,000 after buying an additional 85,804 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Buckeye Partners, L.P. by 6.6% in the first quarter. Bank of America Corp DE now owns 3,471,008 shares of the pipeline company’s stock valued at $237,973,000 after buying an additional 213,555 shares during the last quarter. UBS Group AG boosted its stake in shares of Buckeye Partners, L.P. by 1.1% in the first quarter. UBS Group AG now owns 3,400,418 shares of the pipeline company’s stock valued at $233,133,000 after buying an additional 35,883 shares during the last quarter. Finally, Advisory Research Inc. boosted its stake in shares of Buckeye Partners, L.P. by 7.3% in the fourth quarter. Advisory Research Inc. now owns 3,222,028 shares of the pipeline company’s stock valued at $213,170,000 after buying an additional 218,751 shares during the last quarter. 67.12% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Robert A. Malecky sold 6,955 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $69.00, for a total value of $479,895.00. Following the completion of the sale, the executive vice president now owns 80,559 shares of the company’s stock, valued at approximately $5,558,571. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Todd J. Russo sold 3,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $67.00, for a total transaction of $219,760.00. Following the completion of the sale, the senior vice president now directly owns 14,106 shares of the company’s stock, valued at approximately $945,102. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 7.67%. The ex-dividend date was Thursday, May 11th. This is a boost from Buckeye Partners, L.P.’s previous quarterly dividend of $1.24. Buckeye Partners, L.P.’s dividend payout ratio is presently 120.99%.

About Buckeye Partners, L.P.

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

12 Month Chart for NYSE:BPL

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