Buckeye Partners, L.P. (NYSE:BPL) – Investment analysts at SunTrust Banks lowered their Q2 2019 EPS estimates for Buckeye Partners in a research note issued on Wednesday, April 17th. SunTrust Banks analyst T. Richardson now expects that the pipeline company will post earnings of $0.58 per share for the quarter, down from their previous forecast of $0.59. SunTrust Banks also issued estimates for Buckeye Partners’ FY2019 earnings at $2.48 EPS.
Buckeye Partners (NYSE:BPL) last released its quarterly earnings results on Friday, February 8th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.21. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $958.86 million. Buckeye Partners had a negative net margin of 1.44% and a positive return on equity of 9.65%. Buckeye Partners’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share.
Buckeye Partners stock opened at $33.15 on Thursday. The firm has a market cap of $5.12 billion, a P/E ratio of 18.52 and a beta of 1.11. The company has a current ratio of 0.46, a quick ratio of 0.28 and a debt-to-equity ratio of 0.97. Buckeye Partners has a 52-week low of $25.71 and a 52-week high of $42.68.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Buckeye Partners by 12.6% in the fourth quarter. Alps Advisors Inc. now owns 14,531,387 shares of the pipeline company’s stock valued at $421,265,000 after acquiring an additional 1,626,804 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of Buckeye Partners by 27.4% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 11,790,497 shares of the pipeline company’s stock valued at $419,636,000 after acquiring an additional 2,537,274 shares during the period. Chickasaw Capital Management LLC raised its stake in shares of Buckeye Partners by 0.4% in the first quarter. Chickasaw Capital Management LLC now owns 5,936,463 shares of the pipeline company’s stock valued at $201,958,000 after acquiring an additional 21,103 shares during the period. Harvest Fund Advisors LLC raised its stake in shares of Buckeye Partners by 97.4% in the fourth quarter. Harvest Fund Advisors LLC now owns 5,572,816 shares of the pipeline company’s stock valued at $161,556,000 after acquiring an additional 2,749,735 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Buckeye Partners by 97.9% in the fourth quarter. Bank of Montreal Can now owns 2,145,556 shares of the pipeline company’s stock valued at $62,199,000 after acquiring an additional 1,061,307 shares during the period. 70.31% of the stock is currently owned by institutional investors and hedge funds.
About Buckeye Partners
Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates.
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