Valero Energy Partners LP (VLP) Sees Strong Trading Volume
Valero Energy Partners LP (NYSE:VLP) saw unusually-strong trading volume on Monday . Approximately 158,772 shares were traded during mid-day trading, an increase of 33% from the previous session’s volume of 119,117 shares.The stock last traded at $42.05 and had previously closed at $41.84.
A number of analysts have recently issued reports on VLP shares. TheStreet raised shares of Valero Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Morgan Stanley reissued a “buy” rating and issued a $58.00 price objective on shares of Valero Energy Partners in a research note on Friday, August 5th. Credit Suisse Group AG raised shares of Valero Energy Partners from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $60.00 to $55.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group raised shares of Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research note on Friday, July 22nd. Finally, Barclays PLC cut their target price on shares of Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, August 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $55.80.
The firm has a market capitalization of $2.77 billion and a price-to-earnings ratio of 17.05. The company’s 50-day moving average is $43.38 and its 200-day moving average is $45.44.
Valero Energy Partners (NYSE:VLP) last issued 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 company had revenue of $88 million for the quarter, compared to analyst estimates of $85.21 million. Valero Energy Partners’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Equities research analysts forecast that Valero Energy Partners LP will post $2.66 EPS for the current fiscal year.
The business 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. This is an increase from Valero Energy Partners’s previous quarterly dividend of $0.34. This represents a $1.46 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, July 28th.
A hedge fund recently raised its stake in Valero Energy Partners stock. Chickasaw Capital Management LLC increased its stake in Valero Energy Partners LP (NYSE:VLP) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 accounts for approximately 2.6% of Chickasaw Capital Management LLC’s holdings, making the stock its 18th largest position. Chickasaw Capital Management LLC owned 2.44% of Valero Energy Partners worth $76,905,000 at the end of the most recent reporting period.
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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