Valero Energy Partners LP (VLP) Shares Gap Up to $41.62
Valero Energy Partners LP (NYSE:VLP) shares gapped up prior to trading on Tuesday . The stock had previously closed at $41.26, but opened at $41.62. Valero Energy Partners shares last traded at $42.49, with a volume of 63,942 shares traded.
Several research analysts have recently commented on VLP shares. TheStreet raised Valero Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, June 22nd. Credit Suisse Group AG raised Valero Energy Partners from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Morgan Stanley reissued a “buy” rating and issued a $58.00 price target on shares of Valero Energy Partners in a research report on Friday, August 5th. Mitsubishi UFJ Financial Group raised Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research report on Friday, July 22nd. Finally, Barclays PLC reduced their price target on Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 8th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Valero Energy Partners presently has a consensus rating of “Buy” and a consensus target price of $55.55.
The stock has a market cap of $2.80 billion and a price-to-earnings ratio of 17.22. The firm’s 50 day moving average is $42.58 and its 200-day moving average is $45.30.
Valero Energy Partners (NYSE:VLP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $88 million for the quarter, compared to analysts’ expectations of $85.21 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s quarterly revenue was up 45.7% on a year-over-year basis. Analysts forecast that Valero Energy Partners LP will post $2.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Stockholders of record on Monday, August 1st were given a dividend of $0.365 per share. This is an increase from Valero Energy Partners’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, July 28th. This represents a $1.46 annualized dividend and a dividend yield of 3.45%.
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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