BUCKEYE PARTNERS L.P. $69 - New York symbol BPL

BUCKEYE PARTNERS L.P. $69 (www.buckeye.com) earned $0.71 a share in the three months ended June 30, 2015, up 34.0% from $0.53 a year earlier. Many oil producers are opting to store their crude instead of selling it at today’s depressed prices, which has spurred demand for Buckeye’s oil-storage terminals. In the latest quarter, these terminals operated at 96% of their capacity, compared to 82% a year ago. That offset weaker demand for gasoline and jet fuel is hurting earnings at Buckeye’s pipeline operations. The partnership also raised its quarterly distribution by 1.1%. The new annual rate of $4.65 a unit yields 6.7%. Buy.

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