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Buckeye Partners

NYSE:BPL
Snowflake Description

Moderate growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BPL
NYSE
$7B
Imp Market Cap
  1. Home
  2. US
  3. Energy
Company description

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The last earnings update was 75 days ago. More info.


Add to Portfolio Compare Print
  • Buckeye Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
BPL Share Price and Events
7 Day Returns
0.3%
NYSE:BPL
-1.5%
US Oil and Gas
-0.9%
US Market
1 Year Returns
23.8%
NYSE:BPL
-16.7%
US Oil and Gas
3.8%
US Market
BPL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Buckeye Partners (BPL) 0.3% 1% 23.9% 23.8% -42.6% -48.9%
US Oil and Gas -1.5% -1.6% -8.9% -16.7% -4.1% -37.7%
US Market -0.9% 1.1% 1.1% 3.8% 35.5% 42.1%
1 Year Return vs Industry and Market
  • BPL outperformed the Oil and Gas industry which returned -16.7% over the past year.
  • BPL outperformed the Market in United States of America which returned 3.8% over the past year.
Price Volatility
BPL
Industry
5yr Volatility vs Market

BPL Value

 Is Buckeye Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Buckeye Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Buckeye Partners.

NYSE:BPL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BPL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 21%) (59.73%))
1.239
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.239 * 5.96%)
10.11%

Discounted Cash Flow Calculation for NYSE:BPL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Buckeye Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:BPL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.11%)
2020 175.52 Est @ -9.32% 159.40
2021 165.50 Est @ -5.71% 136.50
2022 160.25 Est @ -3.18% 120.03
2023 157.99 Est @ -1.4% 107.47
2024 157.73 Est @ -0.16% 97.44
2025 158.85 Est @ 0.7% 89.12
2026 160.93 Est @ 1.31% 81.99
2027 163.72 Est @ 1.74% 75.76
2028 167.06 Est @ 2.04% 70.20
2029 170.80 Est @ 2.24% 65.18
Present value of next 10 years cash flows $1,003.10
NYSE:BPL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $170.80 × (1 + 2.73%) ÷ (10.11% – 2.73%)
$2,376.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,376.90 ÷ (1 + 10.11%)10
$907.10
NYSE:BPL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,003.10 + $907.10
$1,910.21
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,910.21 / 160.64
$11.89
NYSE:BPL Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.89
Current discount Discount to share price of $41.44
= -1 x ($41.44 - $11.89) / $11.89
-248.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Buckeye Partners is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Buckeye Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Buckeye Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BPL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.61
NYSE:BPL Share Price ** NYSE (2019-07-23) in USD $41.44
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 12.79x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.8x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Buckeye Partners.

NYSE:BPL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BPL Share Price ÷ EPS (both in USD)

= 41.44 ÷ -0.61

-67.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Buckeye Partners is loss making, we can't compare its value to the US Oil and Gas industry average.
  • Buckeye Partners is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Buckeye Partners's expected growth come at a high price?
Raw Data
NYSE:BPL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -67.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
23.6%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 79 Publicly-Listed Oil and Gas Companies 0.38x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Buckeye Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Buckeye Partners's assets?
Raw Data
NYSE:BPL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $26.59
NYSE:BPL Share Price * NYSE (2019-07-23) in USD $41.44
United States of America Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 1.02x
United States of America Market PB Ratio Median Figure of 5,249 Publicly-Listed Companies 1.78x
NYSE:BPL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BPL Share Price ÷ Book Value per Share (both in USD)

= 41.44 ÷ 26.59

1.56x

* Primary Listing of Buckeye Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Buckeye Partners is overvalued based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Buckeye Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Buckeye Partners has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BPL Future Performance

 How is Buckeye Partners expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
23.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Buckeye Partners expected to grow at an attractive rate?
  • Buckeye Partners's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Buckeye Partners's earnings growth is expected to exceed the United States of America market average.
  • Buckeye Partners's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BPL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BPL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 23.6%
NYSE:BPL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 1.4%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BPL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BPL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,363 763 495 1
2021-12-31 4,518 789 518 3
2020-12-31 4,051 734 477 6
2019-12-31 4,659 668 403 2
NYSE:BPL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 3,954 678 -94
2018-12-31 4,108 768 -63
2018-09-30 3,980 797 -419
2018-06-30 3,993 883 443
2018-03-31 3,862 932 462
2017-12-31 3,648 888 475
2017-09-30 3,626 855 460
2017-06-30 3,470 783 500
2017-03-31 3,437 705 528
2016-12-31 3,248 718 536
2016-09-30 3,164 758 562
2016-06-30 3,126 790 506

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Buckeye Partners's earnings are expected to grow significantly at over 20% yearly.
  • Buckeye Partners's revenue is expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BPL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Buckeye Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BPL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.21 3.21 3.21 1.00
2021-12-31 3.13 3.53 2.74 5.00
2020-12-31 3.01 3.51 2.58 9.00
2019-12-31 2.55 2.81 2.36 9.00
NYSE:BPL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.61
2018-12-31 -0.41
2018-09-30 -2.78
2018-06-30 3.00
2018-03-31 3.20
2017-12-31 3.33
2017-09-30 3.28
2017-06-30 3.64
2017-03-31 3.91
2016-12-31 4.05
2016-09-30 4.32
2016-06-30 3.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Buckeye Partners is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Buckeye Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Buckeye Partners has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BPL Past Performance

  How has Buckeye Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Buckeye Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Buckeye Partners does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Buckeye Partners's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Buckeye Partners's 1-year growth to the US Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Buckeye Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Buckeye Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BPL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,954.14 -94.09 719.60
2018-12-31 4,108.28 -62.85 723.21
2018-09-30 3,979.54 -419.25 716.17
2018-06-30 3,992.62 442.77 717.38
2018-03-31 3,861.98 462.34 725.54
2017-12-31 3,648.15 474.79 730.54
2017-09-30 3,626.15 460.15 757.59
2017-06-30 3,470.13 500.34 745.43
2017-03-31 3,437.06 528.07 728.88
2016-12-31 3,248.38 535.61 716.04
2016-09-30 3,164.49 561.94 682.31
2016-06-30 3,126.27 505.60 675.80
2016-03-31 3,145.93 456.73 667.53
2015-12-31 3,453.43 438.08 662.20
2015-09-30 3,859.26 368.74 651.01
2015-06-30 4,704.35 374.93 647.99
2015-03-31 5,716.52 344.55 639.70
2014-12-31 6,620.25 332.60 616.91
2014-09-30 7,029.84 354.35 596.46
2014-06-30 6,530.22 330.75 554.18
2014-03-31 5,714.85 354.29 517.60
2013-12-31 5,054.10 347.45 484.02
2013-09-30 4,476.37 301.33 431.82
2013-06-30 4,368.49 303.83 430.40
2013-03-31 4,357.54 273.45 432.65
2012-12-31 4,285.90 231.75 438.23
2012-09-30 4,521.12 251.14 465.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Buckeye Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Buckeye Partners used its assets less efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • It is difficult to establish if Buckeye Partners improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Buckeye Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Buckeye Partners has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BPL Health

 How is Buckeye Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Buckeye Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Buckeye Partners's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Buckeye Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Buckeye Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Buckeye Partners Company Filings, last reported 3 months ago.

NYSE:BPL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,104.40 3,820.57 1.52
2018-12-31 4,131.17 4,714.44 1.83
2018-09-30 3,860.06 5,163.40 60.39
2018-06-30 4,779.59 5,048.90 54.07
2018-03-31 5,089.19 4,703.15 53.36
2017-12-31 4,868.32 4,910.53 34.17
2017-09-30 4,913.03 4,779.05 57.86
2017-06-30 4,663.47 4,807.20 23.63
2017-03-31 4,659.49 4,819.34 31.11
2016-12-31 4,698.42 4,217.70 640.34
2016-09-30 4,112.93 4,045.20 0.00
2016-06-30 4,084.92 3,916.10 14.76
2016-03-31 4,038.97 3,851.32 5.68
2015-12-31 4,016.74 3,844.31 4.88
2015-09-30 3,972.70 3,781.29 7.08
2015-06-30 3,936.55 3,783.86 8.58
2015-03-31 3,922.01 3,585.07 2.20
2014-12-31 3,940.60 3,534.62 8.21
2014-09-30 3,926.29 3,845.69 6.50
2014-06-30 2,994.20 3,758.15 21.91
2014-03-31 3,088.63 3,621.65 31.31
2013-12-31 3,080.84 3,348.76 4.95
2013-09-30 2,740.92 2,892.36 4.98
2013-06-30 2,751.55 2,680.87 4.89
2013-03-31 2,734.68 2,702.33 4.56
2012-12-31 2,388.84 3,072.08 6.78
2012-09-30 2,442.67 2,970.06 2.95
  • Buckeye Partners's level of debt (93.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (117.3% vs 93.1% today).
  • Debt is not well covered by operating cash flow (17.7%, less than 20% of total debt).
  • Buckeye Partners is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Buckeye Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Buckeye Partners has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BPL Dividends

 What is Buckeye Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.24%
Current annual income from Buckeye Partners dividends. Estimated to be 7.24% next year.
If you bought $2,000 of Buckeye Partners shares you are expected to receive $145 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Buckeye Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Buckeye Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.77%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BPL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 67 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BPL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.00 1.00
2021-12-31 3.00 6.00
2020-12-31 3.00 10.00
2019-12-31 3.00 10.00
NYSE:BPL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-10 3.000 7.306
2019-02-15 4.025 11.935
2019-02-08 4.025 12.591
2018-11-02 3.000 9.888
2018-08-03 5.050 14.100
2018-05-04 5.050 13.987
2018-02-23 5.050 12.339
2018-02-09 5.050 10.265
2017-11-03 5.050 10.047
2017-08-04 5.050 9.022
2017-05-05 5.000 7.807
2017-02-24 4.950 7.293
2017-02-10 4.950 6.989
2016-11-03 4.900 7.446
2016-10-24 4.900 7.445
2016-08-05 4.850 6.883
2016-05-06 4.800 6.737
2016-02-25 4.750 7.022
2016-02-12 4.750 8.000
2015-11-02 4.700 7.789
2015-10-30 4.700 6.885
2015-07-31 4.650 6.846
2015-05-01 4.600 6.012
2015-02-26 4.550 5.914
2015-02-06 4.550 6.002
2014-11-07 4.500 5.913
2014-08-08 4.450 5.757
2014-05-02 4.400 5.509
2014-02-07 4.350 5.827
2013-11-01 4.300 6.220
2013-08-02 4.250 6.320
2013-05-03 4.200 6.105
2013-02-08 4.150 7.098
2012-11-02 4.150 8.454
2012-08-03 4.150 8.398
2012-05-04 4.150 8.162
2012-02-10 4.150 6.974
2011-11-04 4.100 6.456
2011-08-05 4.050 6.411
2011-05-06 4.000 6.335
2011-02-11 3.950 6.190
2010-11-08 3.900 5.836
2010-08-06 3.850 6.100
2010-05-07 3.800 6.440
2010-02-05 3.750 6.328
2009-11-02 3.700 6.869
2009-07-28 3.650 7.676
2009-04-30 3.600 8.520
2009-02-03 3.550 9.517
2008-10-28 3.500 9.946
2008-07-29 3.450 9.111

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Buckeye Partners's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Buckeye Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Buckeye Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Buckeye Partners has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BPL Management

 What is the CEO of Buckeye Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Clark Smith
COMPENSATION $8,754,998
AGE 64
TENURE AS CEO 7.4 years
CEO Bio

Mr. Clark C. Smith is a Member of the Advisory Boards of Haddington Ventures, L.L.C. He currently serves on the Board of Directors of the Association of Oil Pipelines. Mr. Smith was recently appointed by the Secretary of Energy to the National Petroleum Council. He has been Chairman, Chief Executive Officer and President of Buckeye GP LLC, since August 2014, February 2012 and February 2009 respectively. Mr. Smith also serves as President, Chief Executive Officer, and Director of Buckeye GP Holdings L.P. He served as Chief Operating Officer of Buckeye GP LLC from February 2009 to February 2012. He previously served as Director of Buckeye GP LLC, general partner of Buckeye Partners, L.P. since October 2007 until February 2009. From June 2004 to June 2007, Mr. Smith served as Managing Director of Engage Investments, L.P. Mr. Smith was Executive Vice President of El Paso Corporation and President of El Paso Merchant Energy Group, since August 2000 until May 2003, and a private investor from May 2003 to June 2004. Mr. Smith received both a Master’s Degree in Business Administration (1978) and a Bachelor’s Degree(1976) in Finance from The University of Texas in Austin.

CEO Compensation
  • Clark's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Clark's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Buckeye Partners management team in years:

6.3
Average Tenure
56
Average Age
  • The average tenure for the Buckeye Partners management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Clark Smith

TITLE
Chairman
COMPENSATION
$9M
AGE
64
TENURE
7.4 yrs

Keith St. Clair

TITLE
Executive VP & CFO of Buckeye GP LLC
COMPENSATION
$3M
AGE
62
TENURE
10.7 yrs

Khalid Muslih

TITLE
Executive VP & President of Global Marine Terminals - Buckeye GP LLC
COMPENSATION
$3M
AGE
48
TENURE
5.4 yrs

Bob Malecky

TITLE
Executive VP and President of Domestic Pipelines & Terminals Business Unit - Buckeye GP LLC
COMPENSATION
$3M
AGE
55
TENURE
7.5 yrs

William Hollis

TITLE
Senior VP & President of Buckeye Services - Buckeye GP LLC
COMPENSATION
$2M
AGE
56
TENURE
5 yrs

Gary Bohnsack

TITLE
VP, Controller & Chief Accounting Officer of Buckeye GP LLC
AGE
48
TENURE
2.1 yrs

Kevin Goodwin

TITLE
VP & Treasurer

Todd Russo

TITLE
Senior VP
COMPENSATION
$1M
AGE
45
TENURE
6.3 yrs

Mark Esselman

TITLE
Senior Vice President of Global Human Resources - Buckeye GP LLC
AGE
62
TENURE
7.5 yrs

Joseph Sauger

TITLE
Senior Vice President of Global Marine Terminals Operations & Engineering - Buckeye GP LLC
AGE
57
TENURE
5.1 yrs
Board of Directors Tenure

Average tenure and age of the Buckeye Partners board of directors in years:

7
Average Tenure
64.5
Average Age
  • The tenure for the Buckeye Partners board of directors is about average.
Board of Directors

Clark Smith

TITLE
Chairman
COMPENSATION
$9M
AGE
64
TENURE
4.9 yrs

Joe LaSala

TITLE
Director of Buckeye GP LLC
COMPENSATION
$233K
AGE
65
TENURE
8.7 yrs

Rick Richard

TITLE
Director of Buckeye GP LLC
COMPENSATION
$235K
AGE
66
TENURE
10.4 yrs

Barbara Duganier

TITLE
Director of Buckeye GP LLC
COMPENSATION
$258K
AGE
60
TENURE
5.8 yrs

Frank Sowinski

TITLE
Lead Independent Director of Buckeye GP LLC
COMPENSATION
$268K
AGE
62
TENURE
4.9 yrs

Mark McKinley

TITLE
Director of Buckeye GP LLC
COMPENSATION
$222K
AGE
62
TENURE
11.8 yrs

Martin White

TITLE
Director of Buckeye GP LLC
COMPENSATION
$231K
AGE
76
TENURE
8.7 yrs

Pieter Bakker

TITLE
Director of Buckeye GP LLC
COMPENSATION
$220K
AGE
75
TENURE
8.2 yrs

Barbara Baumann

TITLE
Director of Buckeye GP LLC
COMPENSATION
$235K
AGE
64
TENURE
4.8 yrs

Larry Payne

TITLE
Director of Buckeye GP LLC
COMPENSATION
$226K
AGE
71
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • Buckeye Partners individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jun 19 Sell Joseph LaSala Individual 13. Jun 19 13. Jun 19 -9,000 $40.77 $-366,894
21. May 19 Sell Todd Russo Individual 20. May 19 20. May 19 -8,740 $40.96 $-357,998
14. May 19 Sell Gary Bohnsack Individual 14. May 19 14. May 19 -2,500 $41.73 $-104,325
14. Nov 18 Sell Todd Russo Individual 12. Nov 18 12. Nov 18 -6,800 $32.25 $-219,300
07. Nov 18 Sell Joseph Sauger Individual 06. Nov 18 06. Nov 18 -537 $33.05 $-17,743
X
Management checks
We assess Buckeye Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Buckeye Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BPL News

Simply Wall St News

Why Buckeye Partners LP (NYSE:BPL) May Not Be As Efficient As Its Industry

and want to learn about Return on Equity using a real-life example. … Buckeye Partners LP (NYSE:BPL) generated a below-average return on equity of 9.7% in the past 12 months, while its industry returned 13.0%. … See our latest analysis for Buckeye Partners

Simply Wall St -

How Financially Strong Is Buckeye Partners LP (NYSE:BPL)?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Buckeye Partners LP (NYSE:BPL), with a market capitalization of US$5.57b, rarely draw their attention from the investing community. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further. … See our latest analysis for Buckeye Partners

Simply Wall St -

Should You Buy Buckeye Partners LP. (NYSE:BPL) At $50.26?

I find that Buckeye Partners’s ratio of 15.32x is trading slightly above its industry peers’ ratio of 14.13x, which means if you buy Buckeye Partners today, you’d be paying a relatively fair price for it. … Since Buckeye Partners’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. … BPL’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Buckeye Partners LP (BPL): Is It A Good Long Term Opportunity?

Below, I've presented key growth figures on how market analysts view Buckeye Partners's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Buckeye Partners Market analysts' consensus outlook for next year seems optimistic, with earnings rising by a robust 23.01%. … NYSE:BPL Future Profit Dec 12th 17 Although it’s helpful to be aware of the growth year by year relative to today’s figure, it may be more insightful to determine the rate at which the earnings are rising or falling every year, on average.

Simply Wall St -

How Buckeye Partners LP (BPL) Delivered A Better ROE Than Its Industry

However, ROE only measures returns against equity, not debt. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of BPL’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:BPL Last Perf Nov 19th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient BPL is with its cost management.

Simply Wall St -

Buckeye Partners LP (BPL): What Can We Expect From This High Growth Stock?

Buckeye Partners LP (NYSE:BPL) is expected to deliver a solid 19.75% in earnings growth per share over the next three years. … To assess the reasonability of BPL’s earnings growth per share, we should look at its most recent growth rate delivered. … This indicates a relatively solid earnings per share growth rate of 19.75% over the next few years, which is an optimistic outlook in the near term.

Simply Wall St -

BPL Company Info

Description

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates. This segment also provides crude oil services, including train loading/unloading, storage, and throughput; and turn-key operations and maintenance, asset development, and construction services for third-party pipeline, terminal, and energy assets, as well as operates and/or maintains third-party pipelines. It owns and operates approximately 6,000 miles of pipeline located primarily in the northeastern and upper midwestern portions of the United States, and services 100 delivery locations; 110 active terminals that provide bulk storage and throughput services with aggregate storage capacity of 55 million barrels; and 2 underground propane storage caverns. The Global Marine Terminals segment provides marine accessible bulk storage and blending, rail and truck rack loading/unloading, and petroleum processing services located primarily in the East Coast and Gulf Coast regions of the United States, as well as in the Caribbean. This segment owns and operates seven liquid petroleum products and crude oil terminals. The Merchant Services segment is involved in the wholesale distribution of refined petroleum products, including gasoline, natural gas liquids, propane, ethanol, and biodiesel, as well as petroleum distillates, such as heating oil, diesel fuel, kerosene, and fuel oil. This segment also provides fuel oil supply, butane, and distribution services. Buckeye GP LLC serves as the general partner of the company. Buckeye Partners, L.P. was founded in 1886 and is based in Houston, Texas.

Details
Name: Buckeye Partners, L.P.
BPL
Exchange: NYSE
Founded: 1886
$6,650,316,613
$6,650,316,613
160,635,667
Website: http://www.buckeye.com
Address: Buckeye Partners, L.P.
One Greenway Plaza,
Suite 600,
Houston,
Texas, 77046,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BPL Limited Partnership Units New York Stock Exchange US USD 16. Dec 1986
DB B4D Limited Partnership Units Deutsche Boerse AG DE EUR 16. Dec 1986
Number of employees
Current staff
Staff numbers
1,850
Buckeye Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 01:14
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/07/17
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.