PBF Logistics LP (PBFX) Downgraded to “Hold” at BidaskClub
BidaskClub cut shares of PBF Logistics LP (NYSE:PBFX) from a buy rating to a hold rating in a report published on Friday morning.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut PBF Logistics from a hold rating to a sell rating in a report on Wednesday, August 9th. TheStreet raised PBF Logistics from a d rating to a c rating in a report on Tuesday, May 30th. ValuEngine upgraded PBF Logistics from a hold rating to a buy rating in a report on Thursday, July 6th. Finally, Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the company a hold rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. PBF Logistics has an average rating of Hold and a consensus price target of $24.00.
PBF Logistics (NYSE:PBFX) opened at 21.25 on Friday. The company has a market capitalization of $890.21 million, a PE ratio of 9.62 and a beta of 1.32. The firm’s 50-day moving average is $21.24 and its 200-day moving average is $20.53. PBF Logistics has a 12 month low of $17.45 and a 12 month high of $22.70.
PBF Logistics (NYSE:PBFX) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.09). The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The firm’s revenue was up 53.1% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities analysts anticipate that PBF Logistics will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.46. PBF Logistics’s dividend payout ratio is presently 89.10%.
A number of institutional investors have recently made changes to their positions in the business. NBW Capital LLC grew its position in PBF Logistics by 2.8% in the 2nd quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock valued at $7,864,000 after acquiring an additional 11,006 shares during the last quarter. GSA Capital Partners LLP grew its position in PBF Logistics by 9.1% in the 2nd quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after acquiring an additional 1,114 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in PBF Logistics by 11.7% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after acquiring an additional 2,600 shares during the last quarter. Wells Fargo & Company MN grew its position in PBF Logistics by 18.5% in the 2nd quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 12,852 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in PBF Logistics by 3,128.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after acquiring an additional 43,918 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors.
PBF Logistics Company Profile
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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