Valero Energy Partners (VLP) Downgraded to “Sell” at Zacks Investment Research

Valero Energy Partners (NYSE:VLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Sunday.

According to Zacks, “Valero Energy Partners LP is engaged in the ownership, development and acquisition of crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. The Company’s assets primarily situated in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero Energy Corporation’s refinery based in Port Arthur, Texas, McKee refinery based in Sunray, Texas and its refinery based in Memphis, Tennessee. Valero Energy Partners LP is based in San Antonio, United States. “

Other research analysts also recently issued reports about the stock. Citigroup reissued a “neutral” rating and issued a $50.00 price target on shares of Valero Energy Partners in a report on Wednesday, October 18th. Credit Suisse Group began coverage on shares of Valero Energy Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $47.00 price target for the company. Barclays downgraded shares of Valero Energy Partners from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $50.00 to $49.00 in a report on Wednesday. Mizuho set a $53.00 price target on shares of Valero Energy Partners and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of Valero Energy Partners in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Valero Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $51.75.

Valero Energy Partners (NYSE:VLP) opened at $46.55 on Friday. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 5.05. Valero Energy Partners has a fifty-two week low of $39.52 and a fifty-two week high of $51.00. The company has a market cap of $3,290.00, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69.

Valero Energy Partners (NYSE:VLP) last announced its quarterly earnings results on Friday, October 27th. The pipeline company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.03). Valero Energy Partners had a net margin of 54.43% and a return on equity of 184.08%. The firm had revenue of $109.00 million during the quarter, compared to the consensus estimate of $111.09 million. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. equities research analysts anticipate that Valero Energy Partners will post 2.81 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Valero Energy Partners by 44.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,231 shares of the pipeline company’s stock worth $19,796,000 after acquiring an additional 142,350 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Valero Energy Partners by 53.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,529 shares of the pipeline company’s stock worth $435,000 after acquiring an additional 3,303 shares during the last quarter. Spirit of America Management Corp NY lifted its holdings in shares of Valero Energy Partners by 5.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 424,190 shares of the pipeline company’s stock worth $18,546,000 after acquiring an additional 21,000 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Valero Energy Partners by 222.0% during the 2nd quarter. Citadel Advisors LLC now owns 14,813 shares of the pipeline company’s stock worth $676,000 after acquiring an additional 10,213 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new stake in shares of Valero Energy Partners during the 3rd quarter worth $4,079,000. 29.30% of the stock is owned by institutional investors.

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About Valero Energy Partners

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 pipelines, terminals, and other logistics assets in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the ten of Valero Energy Corporation (Valero) refineries.

Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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