UBS Maintains a 'Buy' on Buckeye (BPL); Cutting Numbers on Weak Energy Services Result
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Price: $41.46 --0%
Rating Summary:
2 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
2 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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UBS maintains a 'Buy' on Buckeye (NYSE: BPL) price target lowered from $74 to $70.
UBS analyst says, "4Q EPU of $0.64 missed UBSe/cons $0.82/$0.85, largely on weakness in Buckeye Energy Services (“BES”; we est ~$0.15 of the miss) due to poor weather and lack of basis differentials. While we lower our PT to reflect likely ‘12 weakness in BES and nat gas storage, we maintain our Buy rating, as we continue to forecast profit growth in Pipelines and BORCO (BPL’s two largest segments), and we still expect ‘12 distribution growth of ~5% in addition to BPL’s current 6.6% annual yield."
UBS cuts FY12 EPS estimate from $3.52 to $3.00.
For an analyst ratings summary and ratings history on Buckeye click here. For more ratings news on Buckeye click here.
Shares of Buckeye closed at $63.75 yesterday.
UBS analyst says, "4Q EPU of $0.64 missed UBSe/cons $0.82/$0.85, largely on weakness in Buckeye Energy Services (“BES”; we est ~$0.15 of the miss) due to poor weather and lack of basis differentials. While we lower our PT to reflect likely ‘12 weakness in BES and nat gas storage, we maintain our Buy rating, as we continue to forecast profit growth in Pipelines and BORCO (BPL’s two largest segments), and we still expect ‘12 distribution growth of ~5% in addition to BPL’s current 6.6% annual yield."
UBS cuts FY12 EPS estimate from $3.52 to $3.00.
For an analyst ratings summary and ratings history on Buckeye click here. For more ratings news on Buckeye click here.
Shares of Buckeye closed at $63.75 yesterday.
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