Valero Energy Partners LP (NYSE:VLP) posted its quarterly earnings data on Friday. The pipeline company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.03), MarketWatch Earnings reports. Valero Energy Partners had a return on equity of 266.53% and a net margin of 55.29%. The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $111.09 million. During the same quarter last year, the firm posted $0.77 earnings per share. Valero Energy Partners’s quarterly revenue was up 18.5% on a year-over-year basis.
Valero Energy Partners (NYSE:VLP) traded up 3.03% during midday trading on Friday, hitting $42.12. The stock had a trading volume of 155,290 shares. Valero Energy Partners has a 12-month low of $38.90 and a 12-month high of $51.00. The stock has a 50-day moving average price of $42.80 and a 200 day moving average price of $44.52. The firm has a market cap of $2.87 billion, a P/E ratio of 13.95 and a beta of 0.74.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Wednesday, November 1st will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.56%. Valero Energy Partners’s dividend payout ratio is 64.31%.
VLP has been the subject of several research reports. Zacks Investment Research upgraded Valero Energy Partners from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, July 5th. ValuEngine upgraded Valero Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Scotiabank set a $51.00 price objective on Valero Energy Partners and gave the stock a “buy” rating in a research note on Saturday, July 22nd. BidaskClub lowered Valero Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC upgraded Valero Energy Partners from a “hold” rating to a “buy” rating and cut their price objective for the stock from $51.00 to $50.00 in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.25.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Valero Energy Partners by 471.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the pipeline company’s stock worth $124,000 after purchasing an additional 2,120 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Valero Energy Partners during the 2nd quarter worth approximately $197,000. Proficio Capital Partners LLC purchased a new position in shares of Valero Energy Partners during the 2nd quarter worth approximately $221,000. Alliancebernstein L.P. purchased a new position in shares of Valero Energy Partners during the 1st quarter worth approximately $248,000. Finally, Botty Investors LLC increased its stake in shares of Valero Energy Partners by 821.2% during the 2nd quarter. Botty Investors LLC now owns 5,739 shares of the pipeline company’s stock worth $262,000 after purchasing an additional 5,116 shares in the last quarter. 29.94% 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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