Updating Buckeye Partners L.P. and Ameren Corp.

Article Excerpt

BUCKEYE PARTNERS L.P. $70 (www.buckeye.com) operates 9,600 kilometres of pipelines in the northeastern and midwestern U.S. Its network pumps gasoline, jet fuel and other petroleum products. The partnership also owns oil and gas storage terminals. Buckeye continues to benefit from oil producers that opt to store their crude instead of selling it at today’s low prices. In addition, it recently opened new storage facilities in Texas. As a result, its earnings in the second quarter of 2016 jumped 50.7%, to $1.07 a unit from $0.71. Buckeye also raised its quarterly distribution by 1.0%. The new annual rate of $4.85 a unit yields 6.9%. Buy. AMEREN CORP. $50 (www.ameren.com) provides power and natural gas to 3.3 million clients in Illinois and Missouri. The company’s revenue rose 1.9% in the quarter ended June 30, 2016, to $1.43 billion from $1.40 billion a year earlier. Earnings per share rose 5.2%, to $0.61 from $0.58. Warmer-than-usual weather spurred demand for electricity to power air…