Valero Energy Partners LP (VLP) Shares Gap Up to $41.62
Valero Energy Partners LP (NYSE:VLP) shares gapped up before the market opened 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 trading hands.
Several research firms recently weighed in on VLP. Credit Suisse Group AG set a $55.00 price target on Valero Energy Partners and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley restated a “buy” rating and issued a $58.00 target price on shares of Valero Energy Partners in a research note on Tuesday. Jefferies Group began coverage on Valero Energy Partners in a research note on Tuesday. They issued a “buy” rating and a $53.00 target price on the stock. Barclays PLC lowered their target price on Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 8th. Finally, Mitsubishi UFJ Financial Group upgraded Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research note on Friday, July 22nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Valero Energy Partners presently has a consensus rating of “Buy” and a consensus target price of $55.55.
The firm has a market capitalization of $2.82 billion and a PE ratio of 17.33. The firm’s 50 day moving average is $42.68 and its 200 day moving average is $45.33.
Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $88 million for the quarter, compared to analyst estimates of $85.21 million. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Analysts forecast that Valero Energy Partners LP will post $2.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Monday, August 1st were paid 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 yield of 3.42%. The ex-dividend date was Thursday, July 28th.
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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