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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BPL. Alps Advisors Inc. increased its stake in Buckeye Partners by 11.7% in the third quarter. Alps Advisors Inc. now owns 11,461,563 shares of the pipeline company’s stock valued at $653,309,000 after acquiring an additional 1,204,235 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Buckeye Partners by 23.5% in the third quarter. JPMorgan Chase & Co. now owns 2,832,115 shares of the pipeline company’s stock valued at $158,201,000 after acquiring an additional 539,206 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in Buckeye Partners by 14.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 3,583,695 shares of the pipeline company’s stock valued at $177,572,000 after acquiring an additional 459,586 shares during the last quarter. Center Coast Capital Advisors LP increased its stake in Buckeye Partners by 13.5% in the third quarter. Center Coast Capital Advisors LP now owns 3,478,788 shares of the pipeline company’s stock valued at $198,291,000 after acquiring an additional 414,445 shares during the last quarter. Finally, ING Groep NV bought a new position in Buckeye Partners in the third quarter valued at $22,230,000. 70.24% of the stock is currently owned by institutional investors and hedge funds.

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.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.dailypolitical.com/2018/02/10/buckeye-partners-bpl-posts-quarterly-earnings-results-misses-estimates-by-0-03-eps.html.

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)

Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.