Buckeye Partners (NYSE: BPL) is expected to report Q1 earnings on May 3. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Buckeye Partners's revenues will expand 2.4% and EPS will expand 35.2%.

The average estimate for revenue is $1.29 billion. On the bottom line, the average EPS estimate is $0.73.

Revenue details
 Last quarter, Buckeye Partners logged revenue of $1.15 billion. GAAP reported sales were 12% lower than the prior-year quarter's $1.31 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.96. GAAP EPS of $0.35 for Q4 were 45% lower than the prior-year quarter's $0.64 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 19.1%, 640 basis points better than the prior-year quarter. Operating margin was 10.8%, 410 basis points better than the prior-year quarter. Net margin was 3.0%, 150 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $4.73 billion. The average EPS estimate is $3.21.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 246 members out of 264 rating the stock outperform, and 18 members rating it underperform. Among 94 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 91 give Buckeye Partners a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Buckeye Partners is hold, with an average price target of $55.73.

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