Buckeye Partners L.P. (BPL) reported quarterly earnings results on Friday, Aug-5-2016. The company said it had a profit of $1.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.96. The company posted revenue of $777.10 million in the period, compared to analysts expectations of $851.95 million. The company’s revenue was down -2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Many Wall Street Analysts have commented on Buckeye Partners L.P.. Company shares were Reiterated by Barclays on May 12, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 73 from a previous price target of $69 .Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $68 .
Buckeye Partners L.P. closed down -0.35 points or -0.49% at $70.89 with 2,84,670 shares getting traded on Thursday. Post opening the session at $70.95, the shares hit an intraday low of $70.7 and an intraday high of $71.975 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 20, 2016, Clark C. Smith (Chair, CEO and President) sold 910 shares at $75.02 per share price. According to the SEC, on Jul 20, 2016, Khalid A Muslih (SVP) sold 7,500 shares at $75.00 per share price. On May 24, 2016, Patrick L Pelton (VP, Controller, and CAO) sold 2,090 shares at $71.79 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.