32.15 0.00 (0.00%)
After hours: 5:06PM EST
|Bid||31.00 x 800|
|Ask||32.31 x 1000|
|Day's Range||31.80 - 32.32|
|52 Week Range||25.71 - 50.05|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 7, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||3.00 (9.32%)|
|1y Target Est||35.20|
Buckeye Partners LP is a US-based company which owns and operates a diversified network of integrated assets providing midstream logistic solutions, consisting of the transportation, storage, and marketing of liquid petroleum products. The dividend yield of Buckeye Partners LP stocks is 14.11%. Buckeye Partners LP had annual average EBITDA growth of 6.90% over the past five years.
The pipeline is already backed by shipper commitments, but Phillips 66 is holding an open season for deliveries near the Houston Ship Channel.
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HOUSTON, Feb. 08, 2019 -- Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) today reported its financial results for the fourth quarter and full year 2018. Net income.
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Moody's Investors Service ("Moody's") changed Buckeye Partners, L.P.'s (Buckeye) outlook to stable from negative and affirmed its Baa3 senior unsecured rating. The change in the rating outlook reflects the completion of all three actions the company announced in November 2018 as the outcome of its strategic review: 1) 40% cash distribution cut (on a per unit basis), 2) sale of non-integrated domestic pipeline and terminal assets, and 3) sale of its equity interest in VTTI B.V. The asset sales proceeds were $1.4 billion and will be used entirely for debt reduction, while the annual saving from distribution cut will be $300 million. "Buckeye Partner's anticipated leverage of 4.5x and distribution coverage above 1.2x will be better supportive of an investment grade rating and stable outlook," said Arvinder Saluja, Moody's Vice President.
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Buckeye Partners, L.P. (“Buckeye”) (BPL) is scheduled to release its 2018 fourth quarter and full year earnings on February 8, 2019. Buckeye Partners, L.P. (BPL) is a publicly traded master limited partnership which owns and operates a diversified international network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Buckeye is one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline.
Buckeye Partners, L.P. (“Buckeye”) (BPL) announced today that it completed the sale of its equity interest in VTTI B.V. (“VTTI”) to Vitol Investment Partnership II Ltd and IFM Investors for cash proceeds of $975 million. The proceeds from the sale will be used to pay down debt. This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and that may be beyond our control. Among the forward-looking statements set forth in this press release are statements regarding the anticipated use of proceeds derived from the disposition of our equity interest in VTTI. These statements are subject to, among other risks, (i) changes in federal, state, local, and foreign laws or regulations to which we are subject, including those governing pipeline tariff rates and those that permit the treatment of us as a partnership for federal income tax purposes, (ii) terrorism and other security risks, including cyber risk, adverse weather conditions, including hurricanes, environmental releases, and natural disasters, (iii) changes in the marketplace for our products or services, such as increased competition, changes in product flows, better energy efficiency, or general reductions in demand, (iv) adverse regional, national, or international economic conditions, adverse capital market conditions, and adverse political developments, (v) shutdowns or interruptions at our pipeline, terminalling, storage, and processing assets or at the source points for the products we transport, store, or sell, (vi) unanticipated capital expenditures in connection with the construction, repair, or replacement of our assets, (vii) volatility in the price of liquid petroleum products, (viii) nonpayment or nonperformance by our customers, (ix) our ability to integrate acquired assets with our existing assets and to realize anticipated cost savings and other efficiencies and benefits, and (x) our ability to successfully complete our organic growth projects and to realize the anticipated financial benefits. You should read our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2017, for a more extensive list of factors that could affect results. We undertake no obligation to revise our forward-looking statements to reflect events or circumstances occurring after today’s date except as required by law.
Houston-based Buckeye Pipeline Partners LP (NYSE: BPL) expects its joint venture crude terminal, called South Texas Gateway, to cost between $450 million and $500 million. Buckeye formed the joint venture with Houston-based Phillips 66 Partners LP (NYSE: PSXP) and San Antonio-based Andeavor — which was since absorbed by Ohio-based Marathon Petroleum Corp. (NYSE: MPC) — back in May. The joint venture replaced the similarly named South Texas Gateway pipeline project, which Buckeye canceled at the time.