Buckeye Partners LP

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  • Why Sunoco Logistics Has the Lowest Profit Margins
    Company & Industry Overviews

    Why Sunoco Logistics Has the Lowest Profit Margins

    Sunoco Logistics has the lowest profit margin and ROE among its peers. Its profit margin and ROE of 1.6% and 1.7%, respectively, are well below the group average.

    By Kurt Gallon
  • uploads///hurricane harvey
    Company & Industry Overviews

    Hurricane Harvey Impacted Energy MLPs

    Hurricane Harvey hit the US Gulf Coast last week. The US Gulf Coast is a major destination for US refineries and energy infrastructure.

    By Kurt Gallon
  • uploads///distribution growth
    Earnings Report

    Enterprise Products Is Expected to Increase Distributions in 2015

    Enterprise Products trades at a distribution yield of ~4.9%. One of the reasons for EPD’s relatively lower distribution yield might be its distribution coverage ratio.

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Must-know: The BPL segments that source from liquid-rich areas

    Traditionally, the Merchant Services segment provides wholesale distributor service of refined petroleum products in the U.S. and the Caribbean.

    By Alex Chamberlin
  • uploads///ebitda trend
    Company & Industry Overviews

    Why Energy Transfer Partners’ Earnings Are on the Rise

    Energy Transfer Partners (ETP) reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.9 billion in 4Q17.

    By Rekha Khandelwal, CFA
  • uploads///Analyst Recommendation
    Company & Industry Overviews

    Should You Include Buckeye Partners in Your Portfolio?

    Buckeye Partners’ (BPL) outlook looks positive from a long-term investment standpoint. At a broader level, ~54% of analysts rate Buckeye Partners as “hold.”

    By Kurt Gallon
  • uploads///distribution trend
    Company & Industry Overviews

    Behind ETP’s, EEP’s, BPL’s, and SUN’s High Yields

    After a 6.3% fall on March 15, 2018, Energy Transfer Partners (ETP) is trading at a distribution yield of ~13.6%.

    By Rekha Khandelwal, CFA
  • uploads///price to dcf
    Energy & Utilities

    What Buckeye Partners’ Current Valuation Indicates

    On October 31, 2017, Buckeye Partners (BPL) was trading at a price-to-distributable-cash-flow multiple of 10.4x, which is significantly below the historical ten-quarter average of 13.8x.

    By Kurt Gallon
  • uploads///ANR
    Company & Industry Overviews

    What Do Analysts Recommend for NGL Energy Partners?

    62.5% of analysts rate NGL Energy Partners a “buy,” 12.5% rate it as a “hold,” and the remaining 25.0% rate it as a “sell.”

    By Kurt Gallon
  • uploads///Gains
    Basic Materials

    Best-Performing MLPs in the Week Ended July 13

    CVR Partners (UAN) rallied 9.7% in the week ended July 13, making it the top MLP gainer for the week.

    By Kurt Gallon
  • uploads///top gainers
    Energy & Utilities

    ENLK, BPL, and CEQP: The Top MLP Gainers Last Week

    EnLink Midstream Partners (ENLK) rose 7.7% last week. The stock has gained substantially since its strong second-quarter results.

    By Rekha Khandelwal, CFA
  • uploads///MLPI MLPL returns
    Macroeconomic Analysis

    UBS Group’s MLPI and MLPL Outperformed Energy ETFs Last Week

    The ETRACS Alerian MLP Infrastructure Index ETN (MLPI) rose 5.3% in the week ended August 14. It closely tracks the Alerian MLP Infrastructure Index (AMZI), its underlying index.

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Why the BORCO terminal acts as booster to Global Marine segment

    BPL acquired the BORCO terminal facility in the Bahamas in 2011.

    By Alex Chamberlin
  • Energy & Utilities

    An investor’s guide to YMLI and its holdings, like Targa Resources

    The Yorkville High Income Infrastructure MLP ETF (YMLI) launched in February 2013. Major constituents of YMLI include Sunoco Logistics Partners LP (SXL) and Western Gas Equity Partners LP (WGP).

    By Alex Chamberlin
  • uploads///Ylds
    Company & Industry Overviews

    Comparing Cheniere Energy Partners’ Yield with Its Peers’

    Cheniere Energy Partners (CQP), Cheniere Energy’s MLP subsidiary, is currently trading at a distribution yield of 5.6%.

    By Vineet Kulkarni
  • uploads///analysts ratings
    Energy & Utilities

    Key MLP and Midstream Rating Updates Last Week

    On January 16, Barclays raised its rating for Williams Companies (WMB) from “equal weight” to “overweight.”

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    HCLP, BPL, SUN, and USAC: Are Analysts Cautious?

    For Hi-Crush Partners (HCLP), one analyst rated the stock as a “strong buy,” nine rated it as a “buy,” and seven rated it as a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///nspc
    Earnings Report

    Buckeye Partners Stock Could React to a Distribution Cut

    Buckeye Partners’ 30-day implied volatility was 28.9% as of July 30—slightly below the 15-day average of 29.3%.

    By Kurt Gallon
  • uploads///anr
    Energy & Utilities

    MLP Rating Update for the Week Ended July 27

    Buckeye Partners (BPL) was downgraded by SunTrust Robinson Humphrey last week. It lowered BPL to a “sell” from a “hold.”

    By Kurt Gallon
  • uploads///P
    Energy & Utilities

    Top Energy Gainers Last Week

    On July 6–13, upstream stock Sanchez Energy (SN) saw the highest gain on our list of energy stocks.

    By Rabindra Samanta
  • uploads///worst
    Energy & Utilities

    The Weakest MLPs in H1 2018

    Dominion Midstream Energy Partners (DM), a midstream subsidiary of Dominion Energy (D), was the weakest MLP in the first half of 2018, falling 55%.

    By Kurt Gallon
  • uploads///yield
    Energy & Utilities

    Should Investors Chase Buckeye Partners’ Monstrous Yield?

    Buckeye Partners (BPL) was trading at a very high distribution yield of 14.6% on July 5.

    By Kurt Gallon
  • uploads///ownership struc
    Earnings Report

    Is Energy Transfer Partners Exploring a C Corporation Structure?

    High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance.

    By Kurt Gallon
  • uploads///segment EBITDA
    Earnings Report

    Which Segment Could Drive Buckeye Partners’ Performance in 1Q18?

    Domestic Pipelines & Terminals, which is Buckeye Partners’ (BPL) largest business segment, posted 9.7% year-over-year adjusted EBITDA growth in 4Q17.

    By Kurt Gallon
  • uploads///industrial _
    Earnings Report

    A Look at Buckeye Partners’ Earnings Drivers in 1Q18

    In this series, we’ll talk about Buckeye Partners’ (BPL) 1Q18 estimates, segment performance drivers, and distribution coverage.

    By Kurt Gallon
  • uploads///BPL
    Energy & Utilities

    BPL at Lows Seen during the Financial Crisis: Offers 39% Upside

    Overall, Buckeye Partners has fallen 24.0% since the beginning of the year and has reached the levels it last saw in 2009 during the financial crisis.

    By Kurt Gallon
  • uploads///Loss
    Energy & Utilities

    Which MLPs Lost 10% or More Last Week?

    Dominion Midstream Energy Partners (DM) and Spectra Energy Partners (SEP) were among the top three MLPs losses last week.

    By Kurt Gallon
  • uploads/// percent analysts rated etp as buy
    Energy & Utilities

    Analysts’ Views on High-Yield MLP Stocks

    Of analysts surveyed by Reuters, 75% rated Energy Transfer Partners (ETP) as a “buy” and the remaining 25% rated it as a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///si
    Energy & Utilities

    Can Plains All American Pipeline Regain Upward Momentum?

    Plains All American Pipeline (PAA) fell below its short-term (50-day) and long-term (200d) moving averages.

    By Kurt Gallon
  • uploads///institutional ownership
    Company & Industry Overviews

    Analyzing Institutional Investor Activity in ETP, EEP, BPL, SUN

    The top ten institutional investors in Energy Transfer Partners (ETP) added 66.8 million ETP shares to their positions, according to the latest filings.

    By Rekha Khandelwal, CFA
  • uploads///short interest
    Company & Industry Overviews

    Comparing Short Interest in ETP, EEP, BPL, and SUN

    Short interest represents the number of shares of a particular stock that have been shorted but haven’t yet been closed out.

    By Rekha Khandelwal, CFA
  • uploads///debt to ebitda ratios
    Company & Industry Overviews

    ETP, EEP, BPL, and SUN: A Leverage Analysis

    Energy Transfer Partners (ETP) had a huge debt, of more than $32 billion, at the end of 2017.

    By Rekha Khandelwal, CFA
  • uploads///EEP
    Company & Industry Overviews

    What’s behind Enbridge Energy Partners’ Attractive Yield?

    With a yield of 11.1%, Enbridge Energy Partners (EEP) is trading at a yield close to Buckeye Partners (BPL).

    By Rekha Khandelwal, CFA
  • uploads///project
    Company & Industry Overviews

    What Are Buckeye Partners’ Current Expansion Plans?

    BPL recently announced its plans to enter the prolific Permian Basin, where it plans to build a 600-mile haul pipeline.

    By Kurt Gallon
  • uploads/// Week lows and highs
    Miscellaneous

    MLPs Approach Their 52-Week Lows amid Crude Oil Price Weakness

    MLPs have seen a series of major sell-offs due to significant weakness in crude oil prices. The Alerian MLP ETF (AMLP) has fallen 7.5% since the beginning of June 2017.

    By Kurt Gallon
  • uploads///image
    Miscellaneous

    Which Midstream Stocks Have the Highest Implied Volatilities?

    On January 23, EnLink Midstream had an implied volatility of 40.1%—the highest among the midstream companies in the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///Correlation
    Macroeconomic Analysis

    How Do MLPs Correlate with Crude Oil?

    Outside of upstream MLPs, most other MLPs are generally affected when oil prices are low enough that drilling is curtailed and pipeline volumes are cut.

    By Kurt Gallon
  • uploads///segment margin
    Company & Industry Overviews

    A Look into Genesis Energy’s Recent Operating Results

    Offshore Pipeline Transportation became Genesis Energy’s (GEL) largest business segment after it acquired offshore pipeline assets from Enterprise Product Partners (EPD) in July 2015.

    By Kurt Gallon
  • uploads///EV to EBITDA
    Company & Industry Overviews

    What Does NGL Energy’s Current Valuation Mean?

    NGL Energy’s EV-to-adjusted EBITDA ratio, using its trailing-12-month adjusted EBITDA, is 12.0x.

    By Kurt Gallon
  • uploads///EBITDA estimates
    Earnings Report

    Analyzing NuStar Energy’s 1Q16 EBITDA Estimates

    NuStar Energy is expected to release its 1Q16 earnings on April 27. Wall Street analysts’ 1Q16 consensus EBITDA estimate for NuStar Energy is $144.3 million.

    By Kurt Gallon
  • uploads///BPL cash flow measures
    Company & Industry Overviews

    Analysis of Buckeye Partners’ Cash Flow Measures

    Buckeye Partners’ capital expenditures for the first nine months of 2015 were ~$433.1 million. This is 43.9% higher than what it spent during the first nine months of 2014.

    By Kurt Gallon
  • uploads///BPL Net debt to EBITDA
    Company & Industry Overviews

    Key Analysis of Buckeye Partners’ Leverage Situation

    Buckeye Partners borrowed ~$1.1 billion under its credit facility in the first nine months of 2015. It repaid ~$0.84 billion under the same facility.

    By Kurt Gallon
  • uploads///BPL segment ebitda
    Company & Industry Overviews

    Analysis of Buckeye Partners’ Recent Operating Performance

    Buckeye Partners’ adjusted EBITDA from continuing operations increased to $204.2 million in 3Q15 from $200.6 million in 3Q14—a marginal increase of 1.2%.

    By Kurt Gallon
  • uploads///BPL stock performance
    Company & Industry Overviews

    Moving Average Indicates a Bearish Trend for Buckeye Partners

    Buckeye Partners has lost 20.9% of its market value during the past year, out of which 15.6% has been lost this year. The recent decline in its stock price can be attributed to the huge decline in crude prices since the start of 2016.

    By Kurt Gallon
  • uploads///Best Performers
    Macroeconomic Analysis

    Genesis Energy: Best Performing Midstream MLP on June 29

    Genesis Energy (GEL) was the best performing midstream MLP at the end of trading on Monday, June 29. It rose 0.16% yesterday. It has performed well YTD.

    By Kurt Gallon
  • uploads///IDRs
    Company & Industry Overviews

    IDRs: How Do They Impact MLPs?

    IDRs entitle the GP to receive a higher percentage of incremental cash distributions after certain target distribution levels have been achieved for the LP unitholders.

    By Kurt Gallon
  • Valuing MLPs: Price-to-Distributable Cash Flow Ratio
    Company & Industry Overviews

    Valuing MLPs: Price-to-Distributable Cash Flow Ratio

    MLPs’ valuations are different from other stocks. To value MLPs, the widely used PE ratio isn’t as useful as the PDCF ratio.

    By Kurt Gallon
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