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Buckeye Partners

buckeyeBuckeye Partners (NYSE:BPL) owns and operates one of the largest refined petroleum products pipeline systems in the U.S. featuring more than with over 6,000 miles of pipelines under its umbrella. Additionally, the firm also owns around 100 liquid petroleum products terminals with a combined storage capacity near 70 million barrels.

This system has provided shareholders with plenty of dividend growth over the years. Its history dates back all the way to Standard Oil. However, BPL is about to kick it into high gear.

The company’s new crown jewel could be its new BORCO marine terminal in the Bahamas. This storage depot is strategically located to take advantage of all the deepwater drilling going on in the Gulf of Mexico as well serving as a storage hub for crude bound through the Panama Canal.

Buckeye is constructing an additional 4.7 million barrels of storage capacity to the terminal’s current 24.9 million barrels of capacity. BORCO will ultimately serve as a growth element for the firm and shareholder distributions.

BPL currently yields 6.6%.

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