California Public Employees Retirement System boosted its holdings in shares of PBF Logistics LP (NYSE:PBFX) by 49.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,200 shares of the pipeline company’s stock after acquiring an additional 7,055 shares during the period. California Public Employees Retirement System’s holdings in PBF Logistics were worth $448,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP boosted its holdings in PBF Logistics by 28.4% in the second quarter. First Trust Advisors LP now owns 285,350 shares of the pipeline company’s stock worth $6,032,000 after acquiring an additional 63,147 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of PBF Logistics by 76,480.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 7,648 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of PBF Logistics by 37.5% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock worth $11,265,000 after purchasing an additional 145,355 shares during the last quarter. Securian Asset Management Inc bought a new position in PBF Logistics in the 2nd quarter worth about $271,000. Finally, Cedar Brook Financial Partners LLC boosted its stake in PBF Logistics by 17.7% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 15,758 shares of the pipeline company’s stock worth $333,000 after purchasing an additional 2,375 shares in the last quarter. 31.34% of the stock is owned by institutional investors.
PBFX has been the topic of several recent analyst reports. Wells Fargo & Co set a $25.00 price objective on shares of PBF Logistics and gave the company a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of PBF Logistics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Saturday, October 26th.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. PBF Logistics had a return on equity of 65.51% and a net margin of 28.14%. The business had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $85.61 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts expect that PBF Logistics LP will post 1.69 EPS for the current year.
The firm also recently declared a dividend, which was paid on Tuesday, November 26th. Stockholders of record on Thursday, November 14th were paid a $0.52 dividend. The ex-dividend date was Wednesday, November 13th. PBF Logistics’s dividend payout ratio is currently 114.29%.
PBF Logistics Profile
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.
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