On Yesterday Buckeye Partners, L.P. (NYSE: BPL) has shown upward move of +0.07% and ended the last trade at $41.25. The trading volume was recorded to 2,418,315 shares as compared to average traded volume of 2,089,503 shares.
Buckeye Partners, L.P. (NYSE: BPL) recently stated its financial results for the first quarter of 2019. Net income attributable to Buckeye was $80.8M for the first quarter of 2019 contrast to $112.4M for the first quarter of 2018. Adjusted EBITDA (as defined below) for the first quarter of 2019 was $216.4M contrast to $261.7M for the first quarter of 2018. Buckeye’s first quarter 2019 results were influenced by the sale of the joint venture’s 50% equity interest in VTTI, which was completed in January 2019. Included in the first quarter 2018 results was a $43.6M contribution to Adjusted EBITDA from the divested assets.
Net income attributable to Buckeye was $0.52 per diluted unit for the first quarter of 2019 contrast to $0.74 per diluted unit for the first quarter of 2018. The diluted weighted average number of units outstanding in the first quarter of 2019 was 154.5M contrast to 149.5M in the first quarter of 2018.
Distributable cash flow for the first quarter of 2019 was $144.5M contrast to $169.2M for the first quarter of 2018. Buckeye also stated distribution coverage of 1.24 times for the first quarter of 2019.
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