Buckeye Partners, L.P. (BPL) To Go Ex-Dividend on February 15th

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Buckeye Partners, L.P. (NYSE:BPL) declared a dividend on Friday, February 8th, Fidelity reports. Shareholders of record on Tuesday, February 19th will be given a dividend of 0.75 per share by the pipeline company on Tuesday, February 26th. The ex-dividend date of this dividend is Friday, February 15th.

Buckeye Partners has decreased its dividend payment by an average of 0.6% per year over the last three years. Buckeye Partners has a dividend payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Buckeye Partners to earn $2.77 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 108.3%.

Buckeye Partners stock opened at $30.95 on Friday. Buckeye Partners has a 52 week low of $25.71 and a 52 week high of $51.95. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 1.29. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 17.29 and a beta of 1.08.

Buckeye Partners (NYSE:BPL) last posted its earnings results on Friday, February 8th. The pipeline company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.21. Buckeye Partners had a negative net margin of 10.43% and a positive return on equity of 8.98%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $958.86 million. During the same quarter last year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Buckeye Partners will post 2.61 earnings per share for the current fiscal year.

In related news, SVP Todd J. Russo sold 6,800 shares of Buckeye Partners stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $32.25, for a total value of $219,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Several equities analysts have commented on the stock. ValuEngine raised shares of Buckeye Partners from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Barclays raised shares of Buckeye Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $38.00 in a research report on Wednesday, January 16th. Goldman Sachs Group lowered their price target on shares of Buckeye Partners from $34.00 to $30.00 in a report on Thursday, January 3rd. Finally, Stifel Nicolaus set a $34.00 price target on shares of Buckeye Partners and gave the stock a “buy” rating in a report on Thursday, December 20th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Buckeye Partners currently has a consensus rating of “Hold” and an average target price of $41.07.

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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; refined petroleum products; and crude oil.

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Dividend History for Buckeye Partners (NYSE:BPL)

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