Buckeye Partners (BPL) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS
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 consensus estimate of $0.88 by ($0.03), Morningstar.com reports. The firm had revenue of $946.05 million during the quarter, compared to the consensus estimate of $905.02 million. Buckeye Partners had a return on equity of 9.72% and a net margin of 12.69%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS.
Buckeye Partners (NYSE:BPL) opened at $49.95 on Friday. The company has a market capitalization of $7,372.01, a price-to-earnings ratio of 15.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64. Buckeye Partners has a 12 month low of $43.90 and a 12 month high of $73.01.
In related news, SVP Joseph Sauger sold 5,481 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.04, for a total value of $257,826.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on BPL shares. Stifel Nicolaus decreased their price target on shares of Buckeye Partners from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, November 6th. UBS Group decreased their price target on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating on the stock 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. Barclays decreased their price target on shares of Buckeye Partners from $64.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 6th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $67.00 price target on shares of Buckeye Partners in a report on Monday, October 16th. Two research 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 stock currently has an average rating of “Hold” and an average price target 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.
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