Zacks Investment Research lowered shares of World Point Terminals LP (NYSE:WPT) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “World Point Terminals, LP owns, operates, develops and acquires terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. The Company’s storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the United States. It provides terminaling and storage of light refined products, such as gasoline, distillates and jet fuels; heavy refined products, such as residual fuel oils and liquid asphalt, and crude oil. World Point Terminals, LP is headquartered in St. Louis, Missouri. “

Separately, Stifel Nicolaus upgraded shares of World Point Terminals from a hold rating to a buy rating and set a $16.00 price target on the stock in a report on Tuesday, September 13th. They noted that the move was a valuation call.

World Point Terminals (NYSE:WPT) opened at 16.97 on Tuesday. World Point Terminals has a 1-year low of $11.79 and a 1-year high of $17.65. The firm has a market capitalization of $591.59 million, a P/E ratio of 16.51 and a beta of 0.28. The company has a 50-day moving average price of $15.22 and a 200-day moving average price of $15.36.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, October 28th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Wednesday, October 26th. World Point Terminals’s dividend payout ratio is presently 117.65%.

A number of large investors have recently modified their holdings of WPT. Wells Fargo & Company MN boosted its stake in shares of World Point Terminals by 26.1% in the third quarter. Wells Fargo & Company MN now owns 194,515 shares of the company’s stock worth $2,916,000 after buying an additional 40,304 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of World Point Terminals by 33.9% in the third quarter. Stephens Inc. AR now owns 74,331 shares of the company’s stock worth $1,114,000 after buying an additional 18,816 shares in the last quarter. Morgan Stanley boosted its stake in shares of World Point Terminals by 35.8% in the third quarter. Morgan Stanley now owns 70,412 shares of the company’s stock worth $1,055,000 after buying an additional 18,558 shares in the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of World Point Terminals during the third quarter worth about $571,000. Finally, California Public Employees Retirement System acquired a new stake in shares of World Point Terminals during the second quarter worth about $248,000. Hedge funds and other institutional investors own 28.31% of the company’s stock.

About World Point Terminals

World Point Terminals, LP owns, operates, develops and acquires liquid bulk storage terminals and other assets relating to the storage of petroleum products, including light refined products, heavy refined products and crude oil. The Company operates fee-based facilities located along the East Coast, Gulf Coast and Midwest regions of the United States.

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