Barclays downgraded shares of Valero Energy Partners (NYSE:VLP) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, January 17th, Marketbeat Ratings reports. They currently have $49.00 price objective on the pipeline company’s stock, down from their prior price objective of $50.00.
VLP has been the topic of a number of other research reports. Credit Suisse Group began coverage on Valero Energy Partners in a research report on Thursday, January 4th. They issued a neutral rating and a $47.00 target price on the stock. Mizuho set a $53.00 target price on Valero Energy Partners and gave the company a buy rating in a research report on Sunday, October 29th. Mitsubishi UFJ Financial Group reiterated an overweight rating on shares of Valero Energy Partners in a research report on Friday, October 27th. Zacks Investment Research upgraded Valero Energy Partners from a sell rating to a hold rating in a research report on Friday, November 10th. Finally, Citigroup restated a neutral rating and issued a $50.00 price objective on shares of Valero Energy Partners in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $50.56.
Shares of Valero Energy Partners (NYSE:VLP) traded down $0.83 during mid-day trading on Wednesday, hitting $40.72. The stock had a trading volume of 380,142 shares, compared to its average volume of 117,144. Valero Energy Partners has a 1-year low of $39.49 and a 1-year high of $51.00. The stock has a market capitalization of $2,877.64, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.07 and a beta of 0.65. The company has a debt-to-equity ratio of 5.05, a current ratio of 4.26 and a quick ratio of 4.26.
Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings results on Friday, February 2nd. The pipeline company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.01). Valero Energy Partners had a return on equity of 158.05% and a net margin of 52.75%. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $123.24 million. During the same quarter in the previous year, the firm posted $0.77 EPS. Valero Energy Partners’s revenue was up 21.3% on a year-over-year basis. equities analysts expect that Valero Energy Partners will post 2.94 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Monday, February 5th will be paid a dividend of $0.5075 per share. This represents a dividend yield of 0.0109210243167635%. The ex-dividend date is Friday, February 2nd. Valero Energy Partners’s payout ratio is 73.29%.
Several hedge funds have recently made changes to their positions in VLP. JPMorgan Chase & Co. raised its stake 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 buying an additional 142,350 shares during the period. Dividend Assets Capital LLC raised its stake in shares of Valero Energy Partners by 246.7% during the 3rd quarter. Dividend Assets Capital LLC now owns 194,545 shares of the pipeline company’s stock worth $8,506,000 after buying an additional 138,425 shares during the period. Cadence Capital Management LLC acquired a new position in shares of Valero Energy Partners during the 3rd quarter worth approximately $4,079,000. First Trust Advisors LP acquired a new position in shares of Valero Energy Partners during the 4th quarter worth approximately $3,787,000. Finally, Atlantic Trust Group LLC raised its stake in shares of Valero Energy Partners by 31.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 342,168 shares of the pipeline company’s stock worth $14,960,000 after buying an additional 82,320 shares during the period. 29.26% of the stock is owned by institutional investors and hedge funds.
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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.
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