Cash Distribution. Buckeye also announced today that its general partner declared a cash distribution of $1.0875 per limited partner unit ("LP Unit") for the quarter ended December 31, 2013. The distribution will be payable on February 25, 2014, to unitholders of record on February 18, 2014. This cash distribution represents a 4.8 percent increase over the $1.0375 per LP Unit distribution declared for the fourth quarter of 2012. For 2013, Buckeye declared distributions of $4.275 LP Unit, which represents a 3.0 percent increase over the $4.15 per LP Unit for 2012. Buckeye has paid cash distributions in each quarter since its formation in 1986.
Brokerages Set Buckeye Partners, L.P. Target Price at $83.21 (NYSE:BPL)
May 7th, 2015 -
Buckeye Partners, L.P. logoShares of Buckeye Partners, L.P. (NYSE:BPL) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, AnalystRatingsNetwork.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $83.50.
Buckeye Partners, L.P. (BPL) was a big mover last session, as the company saw its shares rise over 7% on the day. The upside was driven by the company’s announcement that the Federal Energy Regulatory Commission (“FERC”) has approved without modification the previously announced settlement between one of its operating subsidiaries, Buckeye Pipe Line Company, L.P., and multiple airlines. This led to solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 14.4% in the past one-month time frame.
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