Michael Fitzsimmons
Oil & gas, dividend investing, research analyst

Buckeye Partners LP: 5.6% Yield, Hess Assets Driving EBITDA Growth, And A Possible Crude Export Kicker

Buckeye Partners LP (NYSE:BPL) is an MLP that operates one of the largest independent refined petroleum product pipeline systems in the US. The partnership has over 6,000 miles of pipelines and owns approximately 120 liquid petroleum terminals with a storage capacity of over 110 million barrels. BPL operates ~2,800 miles of pipeline under agreements with major oil and chemical companies. The partnership markets refined products and also owns a major natural gas storage facility in northern California.

(click to enlarge)

According to a presentation given at yesterday's annual meeting, BPL operates three business segments: Domestic Pipelines and Terminals account for 71% of adjusted EBITDA, Global Marine Terminals 25%, and Buckeye Services 4%. Over the past 5 years, BPL...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details