Equities researchers at Credit Suisse Group initiated coverage on shares of Valero Energy Partners (NYSE:VLP) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $40.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price indicates a potential upside of 2.83% from the company’s previous close.

A number of other research firms have also recently issued reports on VLP. Mitsubishi UFJ Financial Group cut shares of Valero Energy Partners from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 26th. ValuEngine upgraded shares of Valero Energy Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 25th. Morgan Stanley decreased their price objective on shares of Valero Energy Partners from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, August 17th. Jefferies Financial Group restated a “$38.75” rating and issued a $46.00 price objective on shares of Valero Energy Partners in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. lowered shares of Valero Energy Partners from an “overweight” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.41.

VLP stock opened at $38.90 on Thursday. Valero Energy Partners has a 12-month low of $33.25 and a 12-month high of $48.66. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.71 and a beta of 0.77. The company has a debt-to-equity ratio of 4.99, a quick ratio of 4.07 and a current ratio of 4.07.

Valero Energy Partners (NYSE:VLP) last released its quarterly earnings data on Thursday, July 26th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. Valero Energy Partners had a net margin of 46.87% and a return on equity of 108.14%. The firm had revenue of $134.63 million for the quarter, compared to analysts’ expectations of $132.71 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that Valero Energy Partners will post 2.78 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in VLP. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Valero Energy Partners by 8.2% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,544,766 shares of the pipeline company’s stock valued at $249,159,000 after purchasing an additional 497,690 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in Valero Energy Partners by 1,139.7% during the first quarter. Brookfield Asset Management Inc. now owns 465,357 shares of the pipeline company’s stock worth $16,488,000 after acquiring an additional 427,819 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Valero Energy Partners during the second quarter worth about $3,399,000. First Trust Advisors LP bought a new stake in Valero Energy Partners during the second quarter worth about $2,989,000. Finally, Chickasaw Capital Management LLC boosted its stake in Valero Energy Partners by 2.9% during the second quarter. Chickasaw Capital Management LLC now owns 1,701,318 shares of the pipeline company’s stock worth $64,769,000 after acquiring an additional 47,262 shares in the last quarter. 28.00% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Partners Company Profile

Valero Energy Partners LP owns, operates, develops, and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets in the United States. Its assets consists of the Port Arthur logistics system, the McKee logistics system, the Memphis logistics system, the Three Rivers logistics system, the Ardmore logistics system, the Houston logistics system, the St.

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Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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