Valero Energy Partners LP (VLP) Stock Price Up 1.9%
Valero Energy Partners LP (NYSE:VLP) rose 1.9% on Friday . The company traded as high as $42.08 and last traded at $41.73, with a volume of 53,770 shares trading hands. The stock had previously closed at $40.95.
VLP has been the subject of a number of research reports. Morgan Stanley reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Valero Energy Partners in a research note on Friday, August 5th. TheStreet raised Valero Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Deutsche Bank AG cut Valero Energy Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $56.00 to $50.00 in a research note on Monday, April 18th. Raymond James Financial Inc. started coverage on Valero Energy Partners in a research note on Wednesday, April 20th. They set an “outperform” rating and a $53.00 target price for the company. Finally, Credit Suisse Group AG raised Valero Energy Partners from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Monday. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.80.
The stock has a market capitalization of $2.76 billion and a price-to-earnings ratio of 16.98. The firm’s 50 day moving average is $43.62 and its 200-day moving average is $45.48.
Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. During the same period in the previous year, the firm earned $0.54 earnings per share. The company had revenue of $88 million for the quarter, compared to analysts’ expectations of $85.21 million. The firm’s quarterly revenue was up 45.7% on a year-over-year basis. On average, analysts anticipate that Valero Energy Partners LP will post $2.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Monday, August 1st were issued a $0.365 dividend. The ex-dividend date was Thursday, July 28th. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.34. This represents a $1.46 dividend on an annualized basis and a yield of 3.49%.
A hedge fund recently raised its stake in Valero Energy Partners stock. Chickasaw Capital Management LLC raised its position in Valero Energy Partners LP (NYSE:VLP) by 6.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,490,112 shares of the company’s stock after buying an additional 87,147 shares during the period. Valero Energy Partners comprises approximately 2.6% of Chickasaw Capital Management LLC’s portfolio, making the stock its 18th largest position. Chickasaw Capital Management LLC owned 2.44% of Valero Energy Partners worth $76,905,000 as of its most recent SEC filing.
Valero Energy Partners LP owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company’s assets include crude oil and refined petroleum products pipeline and terminal systems in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the following Valero Energy Corporation (Valero) refineries, such as Port Arthur Refinery-Port Arthur, Texas; McKee Refinery-Sunray, Texas; Three Rivers Refinery-Three Rivers, Texas; Memphis Refinery-Memphis, Tennessee; Ardmore Refinery-Ardmore, Oklahoma; St.
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