SunTrust Banks, Inc. reiterated their hold rating on shares of Arc Logistic Partners LP (NYSE:ARCX) in a research note released on Friday. The brokerage currently has a $16.50 target price on the pipeline company’s stock.
A number of other equities analysts also recently issued reports on ARCX. Zacks Investment Research raised Arc Logistic Partners from a sell rating to a hold rating in a report on Tuesday, July 25th. BidaskClub downgraded Arc Logistic Partners from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus raised Arc Logistic Partners from a hold rating to a buy rating and upped their price target for the company from $13.00 to $18.00 in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has an average rating of Hold and a consensus price target of $16.50.
Arc Logistic Partners (NYSE ARCX) opened at $16.36 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $319.88, a P/E ratio of 25.97, a P/E/G ratio of 13.27 and a beta of 0.80. Arc Logistic Partners has a fifty-two week low of $13.51 and a fifty-two week high of $17.40.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date is Tuesday, November 7th. Arc Logistic Partners’s dividend payout ratio is currently 359.18%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after buying an additional 221,662 shares during the last quarter. Bank of America Corp DE lifted its stake in Arc Logistic Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock valued at $5,804,000 after buying an additional 135,650 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Arc Logistic Partners in the third quarter valued at approximately $3,024,000. Mizuho Securities USA LLC purchased a new stake in Arc Logistic Partners in the third quarter valued at approximately $2,429,000. Finally, Renaissance Technologies LLC lifted its stake in Arc Logistic Partners by 289.9% in the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after buying an additional 77,656 shares during the last quarter. Institutional investors own 42.93% of the company’s stock.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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