USD Partners LP (USDP) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of USD Partners LP (NYSE:USDP) from a hold rating to a strong-buy rating in a report issued on Thursday. The firm currently has $14.00 price objective on the transportation company’s stock.
According to Zacks, “USD Partners LP acquires, develops and operates energy-related rail terminals and other and complementary midstream infrastructure assets and businesses. Its assets consist primarily of an origination crude-by-rail terminal in Hardisty, Alberta, Canada and two destination unit train-capable ethanol rail terminals in San Antonio, Texas, and West Colton, California. The Company also provides railcar services. USD Partners LP is headquartered in Houston, Texas. “
Several other brokerages have also commented on USDP. TheStreet raised shares of USD Partners from a d rating to a c rating in a research report on Wednesday, May 17th. ValuEngine raised shares of USD Partners from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. FBR & Co reaffirmed a buy rating on shares of USD Partners in a research report on Thursday, May 4th. Finally, BidaskClub raised shares of USD Partners from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $14.38.
Shares of USD Partners (NYSE:USDP) traded up 0.87% on Thursday, reaching $11.60. 29,970 shares of the company were exchanged. The company’s 50 day moving average is $11.46 and its 200 day moving average is $13.12. The firm has a market capitalization of $271.08 million, a PE ratio of 10.17 and a beta of 1.03. USD Partners has a 12-month low of $10.13 and a 12-month high of $17.50.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Monday, August 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.36 annualized dividend and a dividend yield of 11.72%. This is a positive change from USD Partners’s previous quarterly dividend of $0.34. USD Partners’s payout ratio is 122.52%.
Hedge funds have recently bought and sold shares of the stock. EJF Capital LLC raised its stake in USD Partners by 66.7% in the first quarter. EJF Capital LLC now owns 50,000 shares of the transportation company’s stock valued at $615,000 after buying an additional 20,000 shares during the period. Bank of America Corp DE raised its stake in USD Partners by 31.1% in the first quarter. Bank of America Corp DE now owns 554,948 shares of the transportation company’s stock valued at $6,826,000 after buying an additional 131,521 shares during the period. Renaissance Technologies LLC raised its stake in USD Partners by 10.3% in the first quarter. Renaissance Technologies LLC now owns 65,691 shares of the transportation company’s stock valued at $808,000 after buying an additional 6,125 shares during the period. Acadian Asset Management LLC acquired a new stake in USD Partners during the first quarter valued at about $281,000. Finally, Creative Planning raised its stake in USD Partners by 97.4% in the first quarter. Creative Planning now owns 48,300 shares of the transportation company’s stock valued at $594,000 after buying an additional 23,832 shares during the period. 28.03% of the stock is currently owned by institutional investors.
USD Partners Company Profile
USD Partners LP acquires, develops and operates energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company’s segments include Terminalling services and Fleet services. The Terminalling services segment consists of various operations, including Hardisty terminal, Casper terminal and Ethanol terminals.
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