Buckeye Partners, L.P. (NYSE:BPL) – Equities research analysts at SunTrust Banks lowered their Q1 2019 earnings per share estimates for Buckeye Partners in a research note issued to investors on Wednesday, April 17th, according to Zacks Investment Research. SunTrust Banks analyst T. Richardson now forecasts that the pipeline company will earn $0.60 per share for the quarter, down from their prior estimate of $0.61. SunTrust Banks also issued estimates for Buckeye Partners’ Q4 2019 earnings at $0.68 EPS.
Buckeye Partners (NYSE:BPL) last released its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.13 billion. Buckeye Partners had a positive return on equity of 9.65% and a negative net margin of 1.44%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS.
Shares of BPL traded up $9.20 on Friday, reaching $41.75. The stock had a trading volume of 26,036,443 shares, compared to its average volume of 514,396. The stock has a market cap of $6.43 billion, a P/E ratio of 23.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.46 and a quick ratio of 0.28. Buckeye Partners has a twelve month low of $25.71 and a twelve month high of $42.65.
Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC acquired a new stake in Buckeye Partners in the 1st quarter valued at $5,690,000. Bollard Group LLC increased its holdings in Buckeye Partners by 112.6% in the 1st quarter. Bollard Group LLC now owns 60,778 shares of the pipeline company’s stock valued at $2,068,000 after purchasing an additional 32,196 shares in the last quarter. Sawtooth Solutions LLC acquired a new stake in Buckeye Partners in the 1st quarter valued at $236,000. Zions Bancorporation N.A. acquired a new stake in Buckeye Partners in the 1st quarter valued at $356,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Buckeye Partners in the 1st quarter valued at $759,000. 70.77% of the stock is currently owned by hedge funds and other institutional investors.
Buckeye Partners Company Profile
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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