Revenue Update on Buckeye Partners L.P.(NYSE:BPL)

Buckeye Partners L.P.(NYSE:BPL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $777.12M. Analysts estimated a revenue of $759.98M. Earnings per share were $1.07. Analysts had estimated an EPS of $0.97.

In a different note, On May 12, 2016, Barclays said it Maintains its rating on Buckeye Partners L.P.. In the research note, the firm Raises the price-target to $69.00 per share. The shares have been rated ‘Equalweight’ by the firm.

Buckeye Partners L.P. (BPL) shares turned negative on Wednesdays trading session with the shares closing down -0.69 points or -0.96% at a volume of 4,66,732. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $72.2999. The peak price level was also seen at $72.2999 while the days lowest was $70.64. Finally the shares closed at $71.11. The 52-week high of the shares is $75.1 while the 52-week low is $47.07. According to the latest information available, the market cap of the company is $9,319 M.

Several Insider Transactions has been reported to the SEC. On Jul 20, 2016, Clark C. Smith (Chair, CEO and President) sold 910 shares at $75.02 per share price.Also, On Jul 20, 2016, Khalid A Muslih (SVP) sold 7,500 shares at $75.00 per share price.On May 24, 2016, Patrick L Pelton (VP, Controller, and CAO) sold 2,090 shares at $71.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Buckeye Partners L.P. (Buckeye) owns and operates a diversified network of integrated assets providing midstream logistic solutions primarily consisting of the transportation storage and marketing of liquid petroleum products. The Company operates in four segments: Pipelines & Terminals; Global Marine Terminals; Merchant Services and Development & Logistics. Buckeye GP LLC (Buckeye GP) is the Company’s general partner. The Pipelines & Terminals segment owns and operates pipeline in the Northeastern and upper Midwestern portions of the United States. The Global Marine Terminals segment provides marine bulk storage marine terminal throughput services and other related services in the Caribbean and the United States. The Merchant Services segment distributes petroleum products in the United States and in the Caribbean. The Development & Logistics segment operates third-party pipelines.

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