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Buckeye Partners Continues to Increase Distributions

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Buckeye Partners’ 3Q16 distribution

In 3Q16, Buckeye Partners (BPL) continued to grow its distribution, supported by strong distributable cash flow growth and an impressive distribution coverage. The partnership declared a distribution of $1.21 per unit for 3Q16. This represents a 4.3% YoY increase over 3Q15 and a 1.0% sequential increase over 2Q16. Most midstream companies have announced their 3Q16 distributions. For more details, read Which MLPs Offered the Highest Dividend Growth in 3Q16?

The partnership expects to grow its distribution at a fixed rate of $0.01 per unit in the fourth quarter of 2016. Based on the recent distribution, the partnership is currently trading at a distribution yield of 6.9%.

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