Valero Energy Partners LP (VLP) Shares Up 1.9%
Shares of Valero Energy Partners LP (NYSE:VLP) shot up 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.
A number of brokerages have weighed in on VLP. TheStreet upgraded Valero Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, June 22nd. Raymond James Financial Inc. began coverage on Valero Energy Partners in a research report on Wednesday, April 20th. They issued an “outperform” rating and a $53.00 price target on the stock. Deutsche Bank AG cut Valero Energy Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $56.00 to $50.00 in a research report on Monday, April 18th. Mitsubishi UFJ Financial Group upgraded Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG upgraded Valero Energy Partners from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $60.00 to $55.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Valero Energy Partners presently has an average rating of “Buy” and a consensus price target of $55.80.
The stock’s 50-day moving average is $43.48 and its 200 day moving average is $45.46. The stock has a market cap of $2.76 billion and a price-to-earnings ratio of 16.98.
Valero Energy Partners (NYSE:VLP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The firm had revenue of $88 million for the quarter, compared to analyst estimates of $85.21 million. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 45.7% on a year-over-year basis. On average, equities research analysts forecast that Valero Energy Partners LP will post $2.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Monday, August 1st were issued a dividend of $0.365 per share. The ex-dividend date was Thursday, July 28th. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.34. This represents a $1.46 annualized dividend and a yield of 3.49%.
An institutional investor recently raised its position in Valero Energy Partners stock. Morgan Stanley increased its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 71.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 676,107 shares of the company’s stock after buying an additional 282,894 shares during the period. Morgan Stanley owned about 1.11% of Valero Energy Partners worth $34,895,000 as of its most recent filing with the SEC.
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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