Buckeye Partners L.P. (BPL) reported quarterly earnings results on Friday, May-6-2016. The company reported $1.01 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $1.03. The company posted revenue of $780.60 million in the period, compared to analysts expectations of $1000.49 million. The company’s revenue was down -28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.
Many Wall Street Analysts have commented on Buckeye Partners L.P.. Company shares were Reiterated by Stifel on Mar 2, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $60 .Buckeye Partners L.P. was Initiated by Morgan Stanley to “Overweight” on Feb 25, 2016. Shares were Reiterated by Barclays on Feb 16, 2016 to “Equal Weight” and Lowered the Price Target to $ 69 from a previous price target of $72 .
Buckeye Partners L.P. opened for trading at $70.79 and hit $71.58 on the upside on Wednesday, eventually ending the session at $70.88, with a gain of 0.13% or 0.09 points. The heightened volatility saw the trading volume jump to 3,87,167 shares. Company has a market cap of $9,195 M.
In a different news, on Apr 21, 2016, Clark C. Smith (Chair, CEO and President) sold 10,000 shares at $71.05 per share price. According to the SEC, on Mar 2, 2016, Todd J Russo (SVP and General Counsel) sold 2,400 shares at $64.52 per share price. On Feb 22, 2016, Larry C Payne (director) purchased 1,000 shares at $57.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Buckeye Partners L.P. (Buckeye) owns and operates a diversified network of integrated assets providing midstream logistic solutions primarily consisting of the transportation storage and marketing of liquid petroleum products. The Company operates in four segments: Pipelines & Terminals; Global Marine Terminals; Merchant Services and Development & Logistics. Buckeye GP LLC (Buckeye GP) is the Companys general partner. The Pipelines & Terminals segment owns and operates pipeline in the Northeastern and upper Midwestern portions of the United States. The Global Marine Terminals segment provides marine bulk storage marine terminal throughput services and other related services in the Caribbean and the United States. The Merchant Services segment distributes petroleum products in the United States and in the Caribbean. The Development & Logistics segment operates third-party pipelines.