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Buckeye Partners (BPL) Catches Eye: Stock Jumps 7.5%

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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.

The company has seen no estimate revisions over the past 30 days, while the Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Buckeye Partners currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the same industry is NuStar Energy L.P. ( NS ), which carries a Zacks Rank #2 (Buy).

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BUCKEYE PARTNRS (BPL): Free Stock Analysis Report

NUSTAR ENERGY (NS): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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