Buckeye Partners (NYSE:BPL) released its quarterly earnings results on Friday. The pipeline company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.03), Morningstar.com reports. The company had revenue of $946.05 million during the quarter, compared to the consensus estimate of $905.02 million. Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share.

Buckeye Partners (BPL) opened at $49.95 on Friday. Buckeye Partners has a fifty-two week low of $43.90 and a fifty-two week high of $73.01. The company has a market cap of $7,326.57, a P/E ratio of 14.96 and a beta of 1.03. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93.

The firm also recently announced a dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $1.2625 per share. The ex-dividend date of this dividend is Friday, February 16th. This is a boost from Buckeye Partners’s previous dividend of $1.24. This represents a dividend yield of 0.0252752752752753%. Buckeye Partners’s dividend payout ratio (DPR) is currently 151.20%.

In other news, SVP Joseph Sauger sold 5,481 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.04, for a total transaction of $257,826.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Hudock Capital Group LLC increased its stake in Buckeye Partners by 1,564.7% in the third quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after acquiring an additional 1,815 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in Buckeye Partners in the third quarter valued at approximately $114,000. BNP Paribas Arbitrage SA increased its stake in Buckeye Partners by 315.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 1,575 shares during the last quarter. IFG Advisory LLC bought a new position in Buckeye Partners in the fourth quarter valued at approximately $810,000. Finally, Advisory Services Network LLC increased its stake in Buckeye Partners by 7.4% in the second quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock valued at $185,000 after acquiring an additional 200 shares during the last quarter. 70.24% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on BPL shares. TheStreet cut shares of Buckeye Partners from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Buckeye Partners in a report on Sunday, October 29th. Mizuho reaffirmed a “hold” rating and set a $60.00 target price on shares of Buckeye Partners in a report on Sunday, November 5th. Royal Bank of Canada lowered their target price on shares of Buckeye Partners from $67.00 to $56.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $72.00 target price on shares of Buckeye Partners in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.27.

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About Buckeye Partners

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.

Earnings History for Buckeye Partners (NYSE:BPL)

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