BPL: Buckeye Partners Lp. Instablogs

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Friday, May 3, 3:47 PM A project to connect Buckeye Partners' (BPL +5.8%) Perth Amboy, N.J., terminal to a pipeline transportation hub in Linden should be completed by April 2014, three months ahead of schedule, CEO Clark Smith says in today's conference call. Once in Linden, petroleum products transferred from Perth Amboy - which can store 4M-plus barrels - can be sent to BPL's other Northeast delivery points. Comment! [Energy, On the Move]
Friday, May 3, 9:52 AM Buckeye Partners (BPL +5.4%) surges at the open following a strong Q1 earnings beat, as higher pipelines and terminals revenue helped mitigate weaker energy services revenue, which fell 6.7% to $962M. Pipelines and terminals revenue rose 17% to $194M. Operating margin improved to 8.9% from 6.4%. Comment! [Energy, Earnings, On the Move]
Friday, May 3, 8:03 AM Buckeye Partners (BPL): Q1 EPS of $0.86 beats by $0.13. Revenue of $1.34B beats by $0.05B. (PR) Comment! [Earnings, Breaking News]
Friday, May 3, 12:05 AM Notable earnings before Friday’s open: ADP, AXL, BBEP, BPL, CBOE, DUK, FBN, GBDC, GTXI, HST, LNT, MCO, NGLS, NRF, NVE, NWL, PNW, POM, PPC, REGN, SE, SEP, SMP, UPL, WCG, XLS, YRCW Comment! [Earnings]
Thursday, May 2, 5:30 PM Notable earnings before Friday’s open: ADP, AXL, BBEP, BPL, CBOE, DUK, FBN, GBDC, GTXI, HST, LNT, MCO, NGLS, NRF, NVE, NWL, PNW, POM, PPC, REGN, SE, SEP, SMP, UPL, WCG, XLS, YRCW Comment! [Earnings]
Tuesday, April 30, 11:42 AM Growing distributions while growing the business is the key for MLPs for the rest of 2013, and Merrill's MLP research team highlights energy partnerships it believes can expand their current business models while raising their distributions to shareholders. Likely to enjoy the highest payout increases: ACMP, BPL, EEP, EPD, GEL, NRGM, MWE, PAA. Comment! [Energy, Quick Ideas]
Wednesday, April 10, 5:35 PM Barclays sees the growth in crude oil rail transport as a “slight positive” for MLPs, as it provides terminal investment opportunities and potential synergies partially offset by increasing competition. The financial impact of rail on MLPs is still relatively modest, the firm says, as pipelines remain the dominant mode of U.S. crude transportation due to cost and safety advantages relative to rail, barge and truck. 3 Comments [Energy]
Monday, April 1, 2:21 PM Buckeye Partners (BPL -1.1%) is downgraded to Hold from Buy at Deutsche Bank, which notes BPL rose 35% in Q1 and is poised to show one of the largest increases in EBITDA in the sector. BPL's outlook for growth, the 6.8% yield, 4% distribution growth and distribution coverage ratio of 1.1x suggest it is fairly valued at $61/unit. Comment! [Energy, Quick Ideas]
Wednesday, February 13, 3:59 PM Buckeye Partners (BPL +1.6%) is upgraded to Buy from Hold with a $58 target price at Argus following strong Q4 earnings, expecting continued strong earnings growth as BPL expands its network of domestic and international pipelines and terminals. The firm says BPL has done a fine job of controlling costs even as new capacity has been added. Comment! [Energy, Quick Ideas, On the Move]
Monday, February 11, 12:33 PM Buckeye Partners (BPL) is upgraded to Neutral from Sell with a $55 price target (up from $49) at Citigroup, which points to the pipeline company's strong operational performance over the past two quarters (Q4). As BPL completes expansion of its Borco terminal in the Bahamas and reaching full benefits in 2014, Citi expects a return to historical annual distribution growth of 4%-5%. 2 Comments [Energy, Quick Ideas]
Friday, February 8, 8:36 AM Buckeye Partners (BPL): Q4 EPS of $0.96 beats by $0.16. Revenue of $1.15B misses by $120M. (PR) Comment! [Earnings, Breaking News, Energy]
Friday, February 8, 12:05 AM Notable earnings before Friday’s open: AOL, AXL, BPL, CBOE, ETR, GSM, LH, LPX, MCO, NBIX, PSEC, YRCW Comment! [Earnings]
Thursday, February 7, 5:30 PM Notable earnings before Friday’s open: AOL, AXL, BPL, CBOE, ETR, GSM, LH, LPX, MCO, NBIX, PSEC, YRCW Comment! [Earnings]
Tuesday, January 29, 10:45 AM Standard & Poor's cuts its rating on Buckeye Partners (BPL -1.4%) to BBB-, the brink of junk territory, noting the midstream energy company's weakening financial measures aren't expected to improve meaningfully until at least 2015. BPL's debt has increased significantly due to large acquisitions, and gross margins have not kept pace with the higher debt burden. Comment! [Energy]
Wednesday, January 23, 5:25 PM Buckeye Partners (BPL) -4% AH after announcing plans for a public offering of 6M limited partnership units pursuant to an effective shelf registration statement. BPL intends to use the net proceeds to reduce debt. 2 Comments [Energy, On the Move]
Thursday, January 3, 11:40 AM Deutsche Bank sees 2013 as another strong year for MLPs "based on the growth inherent in the $30B in organic capital expenditures that are building new infrastructure and the delivery of distribution growth of ~7% on top of the current 6.7% yield [and] within the confines of tax-related issues and the current fiscal debate." DB's current Buy-rated MLPs: ACMP, BPL, ETE, EPD, RRMS, WES. Comment! [Energy, Quick Ideas]

BPL Buckeye Partners Lp.

BPL

Buckeye Partners Lp.