Company Quick10K Filing
Buckeye Partners
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 -0 $-0
10-Q 2019-11-01 Quarter: 2019-09-30
10-Q 2019-08-01 Quarter: 2019-06-30
10-Q 2019-05-10 Quarter: 2019-03-31
10-K 2019-02-15 Annual: 2018-12-31
10-Q 2018-11-02 Quarter: 2018-09-30
10-Q 2018-08-03 Quarter: 2018-06-30
10-Q 2018-05-04 Quarter: 2018-03-31
10-Q 2017-11-03 Quarter: 2017-09-30
10-Q 2017-08-04 Quarter: 2017-06-30
10-Q 2017-05-05 Quarter: 2017-03-31
10-K 2017-02-24 Annual: 2016-12-31
10-Q 2016-11-03 Quarter: 2016-09-30
10-Q 2016-08-05 Quarter: 2016-06-30
10-Q 2016-05-06 Quarter: 2016-03-31
10-K 2016-02-25 Annual: 2015-12-31
10-Q 2015-11-02 Quarter: 2015-09-30
10-Q 2015-07-31 Quarter: 2015-06-30
10-Q 2015-05-01 Quarter: 2015-03-31
10-K 2015-02-26 Annual: 2014-12-31
10-Q 2014-11-07 Quarter: 2014-09-30
10-Q 2014-08-08 Quarter: 2014-06-30
10-Q 2014-05-05 Quarter: 2014-03-31
10-K 2014-02-26 Annual: 2013-12-31
10-Q 2013-11-01 Quarter: 2013-09-30
10-Q 2013-08-07 Quarter: 2013-06-30
10-Q 2013-05-07 Quarter: 2013-03-31
10-K 2013-02-26 Annual: 2012-12-31
10-Q 2012-11-06 Quarter: 2012-09-30
10-Q 2012-08-08 Quarter: 2012-06-30
10-Q 2012-05-08 Quarter: 2012-03-31
10-K 2012-02-27 Annual: 2011-12-31
10-Q 2011-11-08 Quarter: 2011-09-30
10-Q 2011-08-08 Quarter: 2011-06-30
10-Q 2011-05-09 Quarter: 2011-03-31
10-K 2011-02-28 Annual: 2010-12-31
10-Q 2010-11-08 Quarter: 2010-09-30
10-Q 2010-08-06 Quarter: 2010-06-30
10-Q 2010-05-07 Quarter: 2010-03-31
10-K 2010-02-26 Annual: 2009-12-31
8-K 2019-12-04 Officers, Exhibits
8-K 2019-11-01 M&A, Shareholder Rights, Control, Officers, Amend Bylaw, Other Events, Exhibits
8-K 2019-11-01 Enter Agreement, Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2019-10-03 Regulation FD
8-K 2019-09-11 Regulation FD, Exhibits
8-K 2019-08-01 Earnings, Exhibits
8-K 2019-07-31 Shareholder Vote
8-K 2019-07-22 Other Events
8-K 2019-07-03 Other Events
8-K 2019-06-04 Regulation FD, Exhibits
8-K 2019-06-04 Shareholder Vote
8-K 2019-05-10 Earnings, Exhibits
8-K 2019-05-10 Other Events, Exhibits
8-K 2019-05-10 Enter Agreement, Exhibits
8-K 2019-04-09 Regulation FD, Exhibits
8-K 2019-02-27 Regulation FD, Exhibits
8-K 2019-02-08 Earnings, Exhibits
8-K 2019-01-17 M&A, Exhibits
8-K 2019-01-15 Regulation FD, Exhibits
8-K 2018-11-28 Regulation FD, Exhibits
8-K 2018-11-13 Regulation FD, Exhibits
8-K 2018-11-02 Earnings, Exhibits
8-K 2018-11-01 Enter Agreement, Other Events, Exhibits
8-K 2018-08-03 Earnings, Exhibits
8-K 2018-06-05 Shareholder Vote
8-K 2018-06-05 Regulation FD, Exhibits
8-K 2018-05-21 Regulation FD, Exhibits
8-K 2018-05-04 Earnings, Exhibits
8-K 2018-03-02 Sale of Shares, Amend Bylaw, Other Events, Exhibits
8-K 2018-02-27 Regulation FD, Exhibits
8-K 2018-02-23 Sale of Shares, Regulation FD, Exhibits
8-K 2018-02-09 Earnings, Exhibits
8-K 2018-01-22 Other Events, Exhibits
8-K 2018-01-22 Regulation FD, Exhibits
8-K 2018-01-18 Other Events, Exhibits

Buckeye Partners Financials

BPL Metrics, Comps, Filings

Annual | Quarterly

Business

The original Buckeye Pipe Line Company was founded in 1886 as part of the Standard Oil Company ("Standard Oil") and became a publicly owned, independent company after the dissolution of Standard Oil in 1911. Expansion into petroleum products transportation after World War II and subsequent acquisitions thereafter ultimately led to Buckeye Pipe Line Company becoming a leading independent common carrier pipeline. In 1964, Buckeye Pipe Line Company was acquired by a subsidiary of the Pennsylvania Railroad, which later became the Penn Central Corporation. In 1986, Buckeye Pipe Line Company was reorganized into a master limited partnership ("MLP"), Buckeye Partners, L.P. We are a publicly traded Delaware master limited partnership, and our limited partnership units representing limited partner interests ("LP Units") are listed on the New York Stock Exchange ("NYSE") under the ticker symbol "BPL." Buckeye GP LLC ("Buckeye GP") is our general partner. Unless the context requires otherwise, references to "we," "us," "our," the "Partnership" or "Buckeye" are intended to mean the business and operations of Buckeye Partners, L.P. and its consolidated subsidiaries.

We own and operate a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. We are one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. We also use our service expertise to operate and/or maintain third-party pipelines and terminals and perform certain engineering and construction services for our customers. Our global terminal network comprises more than 115 liquid petroleum products terminals with aggregate tank capacity of over 118 million barrels across our portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States as well as in the Caribbean. Our global network of marine terminals enables us to facilitate global flows of crude oil and refined petroleum products, offering our customers connectivity between supply areas and market centers through some of the world's most important bulk storage and blending hubs. Our flagship marine terminal in The Bahamas, Buckeye Bahamas Hub Limited ("BBH"), is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Our Gulf Coast regional hub, Buckeye Texas Partners LLC ("Buckeye Texas"), offers world-class marine terminalling, storage and processing capabilities. We are also a wholesale distributor of refined petroleum products in certain areas served by our pipelines and terminals.

In November 2018, we announced the completion of a comprehensive review of the Partnership's near and long-term strategy (the "Strategic Review"), conducted with oversight from the Board of Directors of Buckeye GP (the "Board"). The Strategic Review included an evaluation of various alternatives designed to maximize long-term value for our unitholders by:


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Magellan Midstream Partners (MMP) 75% 2.6 17% 8,005 5,368 2,676 2,003 1,370 1,654 4,377
Buckeye Partners (BPL) 41% 20.7 -1% 8,491 4,407 3,805 1,549 -91 180 3,724
Southcross Energy Partners (SXE) 6% -1.2 -91% 632 1 304 18 -572 -467 578
Western Gas Equity Partners (WGP) 81% 5.5 5% 11,981 8,489 2,427 1,956 639 1,336 7,394
TC Pipelines (TCP) -13.0 -7% 2,799 2,079 0 0 -191 -151 1,958
Plains GP Holdings (PAGP) 15% 2.1 11% 29,033 14,691 34,206 5,120 3,078 4,230 8,706
Antero Midstream Partners (AM) 0% 2.3 17% 3,546 1,855 1,029 0 586 716 1,632
Andeavor Logistics (ANDX) 46% 5.0 6% 10,550 6,016 2,496 1,139 658 1,049 5,275
Plains All American Pipeline (PAA) 15% 2.0 12% 27,757 14,684 34,206 5,120 3,245 4,343 8,715
Shell Midstream Partners (SHLX) 0% -0.5 28% 2,004 2,771 548 0 558 558 -257
NuStar Energy (NS) 0% 28.5 -3% 6,380 3,978 1,859 0 -182 120 3,432
MPLX (MPLX) 0% 4.9 8% 23,746 15,872 6,702 0 1,952 2,836 14,023
Western Gas Partners (WES) 62% 4.8 5% 9,236 5,705 1,944 1,204 453 980 4,750
CNX Midstream Partners (CNXM) 0% 2.1 14% 1,128 703 231 0 157 186 382
BP Midstream Partners (BPMP) 0% 2.3 24% 700 481 120 0 168 168 393
Noble Midstream Partners (NBLX) 74% 2.7 9% 2,499 1,000 582 428 222 314 863
DCP Midstream (DCP) 20% 6.2 3% 14,033 6,880 9,363 1,881 373 906 5,585
American Midstream Partners (AMID) 19% 2.2 -0% 1,716 1,278 773 144 -7 205 451
Delek Logistics Partners (DKL) 24% -0.0 11% 769 914 631 151 88 153 -5
Energy Transfer (ET) 2% 4.6 5% 90,812 69,978 41,618 831 4,565 9,977 46,065

Balance Sheet ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash1413758564022
Accounts Receivable167207262326266214236271220
Inventory352298259312243193357301211
PP&E2,3063,8484,1895,5235,7366,2026,4836,7366,915
Assets3,5745,5705,9817,0068,0868,3699,42110,3059,356
Accounts Payable6910211315015983107161148
Long-Term Debt1,5192,8122,9413,3303,5663,8724,2184,9114,747
Liabilities2,1643,2463,5923,9254,1454,3534,7235,4365,224
Stockholders' Equity1,4102,3032,3723,0663,7033,7354,4124,5914,120
Income Statement ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue3,1514,7604,3574,108
Cost of Revenue2,522
Gross Profit1,586
R&D
SG&A516470707989869182
Tax-0-1112114
Net Income201115231438549494-52
Cash Flow ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating292404442385600710718888768
Cash Investing-114-1,310-590-1,205-1,191-615-482-1,81072
Cash Financing-202906142817595-99399283-841