Valero Energy Partners LP (NYSE:VLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, July 13th. The brokerage currently has a $52.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price target points to a potential upside of 21.61% from the stock’s previous close.
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. “
Several other analysts have also commented on the stock. BidaskClub raised shares of Valero Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine lowered shares of Valero Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. reissued a “buy” rating on shares of Valero Energy Partners in a research report on Friday, May 26th. Barclays PLC reissued an “overweight” rating and set a $55.00 price target on shares of Valero Energy Partners in a research report on Tuesday, May 2nd. Finally, Scotiabank reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Valero Energy Partners in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Valero Energy Partners presently has a consensus rating of “Buy” and a consensus target price of $53.78.
Valero Energy Partners (NYSE VLP) traded down 1.97% during mid-day trading on Thursday, reaching $42.76. 245,906 shares of the company’s stock were exchanged. The company’s 50-day moving average is $45.54 and its 200 day moving average is $46.76. Valero Energy Partners has a one year low of $38.90 and a one year high of $51.00. The firm has a market capitalization of $2.91 billion, a P/E ratio of 14.16 and a beta of 0.74.
Valero Energy Partners (NYSE:VLP) last released its quarterly earnings results on Friday, July 28th. The pipeline company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $107.14 million. Valero Energy Partners had a net margin of 55.29% and a return on equity of 266.53%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. Equities analysts predict that Valero Energy Partners will post $2.83 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of VLP. US Bancorp DE increased its position in shares of Valero Energy Partners by 39.7% in the first quarter. US Bancorp DE now owns 4,727 shares of the pipeline company’s stock valued at $226,000 after buying an additional 1,343 shares during the period. First Trust Advisors LP increased its position in shares of Valero Energy Partners by 63.6% in the first quarter. First Trust Advisors LP now owns 111,503 shares of the pipeline company’s stock valued at $5,342,000 after buying an additional 43,344 shares during the period. ING Groep NV purchased a new stake in shares of Valero Energy Partners during the first quarter worth approximately $3,641,000. Conning Inc. boosted its stake in shares of Valero Energy Partners by 44.9% in the first quarter. Conning Inc. now owns 19,348 shares of the pipeline company’s stock worth $927,000 after buying an additional 5,991 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Valero Energy Partners by 2.6% in the first quarter. Chickasaw Capital Management LLC now owns 1,529,191 shares of the pipeline company’s stock worth $73,264,000 after buying an additional 38,215 shares during the last quarter. Institutional investors own 31.89% of the company’s stock.
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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