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How Does Buckeye Partners Compare to Its Peers?

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Nov. 2 2015, Published 10:41 a.m. ET

Buckeye Partners and its peers

In this article, we’ll compare Buckeye Partners with its peers on several measures:

  • The PE (price-to-earnings) ratios of Buckeye Partners (BPL), Williams Companies (WMB), AmeriGas Partners (APU), Ferrellgas Partners (FGP), and Pembina Pipeline Corporation (PBA) are 22.7x, 14.5x, 18.5x, 48.6x, and 39.3x, respectively.

  • The PBV (price-to-book value) ratios of Buckeye Partners, Williams Companies, AmeriGas Partners, Ferrellgas Partners, and Pembina Pipeline Corporation are 2.4x, 3.7x, 3.1x, 9.1x, and 2.0x, respectively.

According to these findings, the peers mentioned above have outperformed Buckeye Partners based on PBV ratio. However, Buckeye Partners is way ahead of its peers based on PE ratio.

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ETFs that invest in Buckeye Partners

The Global X MLP ETF (MLPA) invests 5.3% of its holdings in Buckeye Partners. The ETF tracks a market cap–weighted index of US-listed MLPs and is structured as a C corporation.

The Alerian MLP ETF (AMLP) invests 5.1% of its holdings in Buckeye Partners. The ETF tracks a market cap–weighted index of 25 energy infrastructure MLPs. The fund is structured as a C corporation.

The Yorkville High Income Infrastructure MLP ETF (YMLI) invests 4.1% of its holdings in Buckeye Partners. The ETF tracks an equally weighted index of 25 MLPs in the infrastructure space. The fund is structured as a C corporation.

Comparing Buckeye Partners and its ETFs

Now let’s compare Buckeye Partners with the ETFs that invest in it:

  • The YTD (year-to-date) price movements of Buckeye Partners, MLPA, AMLP, and YMLI are -6.1%, -24.9%, -20.5%, and -28.1%, respectively.
  • The PE ratios of Buckeye Partners, MLPA, AMLP, and YMLI are 22.7x, 26.7x, 27.4x, and 26.1x, respectively.
  • The PBV ratios of Buckeye Partners, MLPA, AMLP, and YMLI are 2.4x, 1.9x, 1.7x, and 1.6x, respectively.

According to the above findings, ETFs have outperformed Buckeye Partners based on PE ratio. However, Buckeye Partners is way ahead of its ETFs based on price movement and PBV ratio.

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