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

Shares of Buckeye Partners (BPL) opened at $49.95 on Friday. Buckeye Partners has a twelve month low of $43.90 and a twelve month 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. Shareholders of record on Tuesday, February 20th will be issued a dividend of $1.2625 per share. This is a boost from Buckeye Partners’s previous dividend of $1.24. This represents a yield of 0.0252752752752753%. The ex-dividend date is Friday, February 16th. Buckeye Partners’s dividend payout ratio is currently 151.20%.

BPL has been the subject of several research reports. Royal Bank of Canada reissued a “hold” rating and set a $67.00 price objective on shares of Buckeye Partners in a report on Monday, October 16th. UBS Group decreased their price objective on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. TheStreet cut shares of Buckeye Partners from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Buckeye Partners in a report on Sunday, October 29th. Finally, SunTrust Banks reissued a “hold” rating and set a $72.00 price objective 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 company. The stock presently has a consensus rating of “Hold” and an average price target of $64.27.

In other Buckeye Partners news, SVP Joseph Sauger sold 5,481 shares of the company’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 Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

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

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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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