BidaskClub downgraded shares of USD Partners LP (NYSE:USDP) from a buy rating to a hold rating in a research report report published on Friday morning.
A number of other brokerages also recently commented on USDP. Zacks Investment Research raised shares of USD Partners from a hold rating to a strong-buy rating and set a $14.00 price objective for the company in a research report on Thursday, August 3rd. TheStreet raised shares of USD Partners from a c rating to a b- rating in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $15.50.
USD Partners (NYSE:USDP) opened at 10.90 on Friday. The firm has a market cap of $287.31 million, a price-to-earnings ratio of 9.67 and a beta of 1.01. The firm’s 50-day moving average is $10.84 and its 200-day moving average is $11.78. USD Partners has a 52-week low of $9.00 and a 52-week high of $17.50.
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The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be issued a dividend of $0.345 per share. This is an increase from USD Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.38 annualized dividend and a dividend yield of 12.66%. USD Partners’s payout ratio is presently 110.57%.
In related news, insider Dan Borgen bought 5,000 shares of USD Partners stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average price of $9.19 per share, with a total value of $45,950.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider G Stacy Smith bought 13,500 shares of USD Partners stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $10.83 per share, with a total value of $146,205.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,350 shares of company stock valued at $377,464 in the last ninety days.
Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of USD Partners during the 2nd quarter worth about $165,000. Renaissance Technologies LLC boosted its holdings in shares of USD Partners by 10.3% during the 1st quarter. Renaissance Technologies LLC now owns 65,691 shares of the transportation company’s stock worth $808,000 after buying an additional 6,125 shares during the period. HITE Hedge Asset Management LLC bought a new stake in shares of USD Partners during the 2nd quarter worth about $2,382,000. Bank of America Corp DE boosted its holdings in shares of USD Partners by 31.1% during the 1st quarter. Bank of America Corp DE now owns 554,948 shares of the transportation company’s stock worth $6,826,000 after buying an additional 131,521 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of USD Partners by 26.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 620,220 shares of the transportation company’s stock worth $6,946,000 after buying an additional 131,193 shares during the period. 30.16% of the stock is owned by institutional investors and hedge funds.
USD Partners Company Profile
USD Partners LP acquires, develops and operates energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company’s segments include Terminalling services and Fleet services. The Terminalling services segment consists of various operations, including Hardisty terminal, Casper terminal and Ethanol terminals.
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