Buckeye Partners, L.P. (BPL) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for BPL, as the stock is now down over 13% since Sep 30.
This slump shouldn’t be too much of a surprise to investors, as this liquid petroleum products pipeline company has seen one negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
BPL currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Some better-ranked stocks in the Oil & Gas Pipelines industry include Delek Logistics Partners, LP (DKL), Enbridge Energy Management LLC (EEQ) and Valero Energy Partners LP (VLP). All these stocks hold a Zacks Rank #1 (Strong Buy).
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