Buckeye Partners (BPL) Reports In-Line Q1 EPS; Increases Qtr. Distribution 1.3% to $1.00; Yields 6.4%

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Buckeye Partners LP (NYSE: BPL) reported Q1 EPS of $0.79, in-line with the analyst estimate of $0.79. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $862.7 million.

Buckeye also announced today that its general partner declared a cash distribution of $1.00 per limited partner unit, $4.00 annualized. The distribution is a 1.3 percent increase from the current rate of $0.9875.

The distribution will be payable on May 31, 2011 to unitholders of record on May 16, 2011, with an ex-distribution date of May 12, 2011.

Yield on the distribution is 6.4 percent.

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