Buckeye Partners, L.P. (NYSE:BPL) – Analysts at US Capital Advisors issued their FY2021 earnings estimates for Buckeye Partners in a research report issued to clients and investors on Monday, April 22nd. US Capital Advisors analyst J. Carreker expects that the pipeline company will earn $2.86 per share for the year.
Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, February 8th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.21. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $958.86 million. Buckeye Partners had a positive return on equity of 9.65% and a negative net margin of 1.44%. Buckeye Partners’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share.
BPL has been the subject of a number of other reports. Zacks Investment Research cut Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Barclays raised Buckeye Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $35.00 to $38.00 in a report on Wednesday, January 16th. ValuEngine raised Buckeye Partners from a “sell” rating to a “hold” rating in a report on Monday, December 31st. UBS Group cut Buckeye Partners from a “buy” rating to a “neutral” rating and set a $33.25 price target for the company. in a report on Friday, March 8th. Finally, Goldman Sachs Group cut Buckeye Partners from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $30.00 in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.09.
NYSE BPL opened at $33.62 on Wednesday. Buckeye Partners has a fifty-two week low of $25.71 and a fifty-two week high of $42.68. The firm has a market capitalization of $5.22 billion, a PE ratio of 18.78 and a beta of 1.11. The company has a quick ratio of 0.28, a current ratio of 0.46 and a debt-to-equity ratio of 0.97.
A number of institutional investors have recently added to or reduced their stakes in BPL. Harvest Fund Advisors LLC increased its stake in 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 purchasing an additional 2,749,735 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in 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 purchasing an additional 2,537,274 shares during the last quarter. Alps Advisors Inc. increased its stake in 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 purchasing an additional 1,626,804 shares during the last quarter. Bank of Montreal Can increased its stake in 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 purchasing an additional 1,061,307 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new position in Buckeye Partners in the first quarter valued at $22,206,000. Hedge funds and other institutional investors own 70.31% of the company’s stock.
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.