Valero Energy Partners LP (NYSE:VLP)‘s stock had its “buy” rating reaffirmed by analysts at Scotiabank in a research report issued to clients and investors on Monday. They currently have a $51.00 target price on the stock. Scotiabank’s price objective indicates a potential upside of 3.22% from the company’s previous close.
A number of other analysts have also recently issued reports on VLP. Jefferies Group LLC set a $53.00 price objective on Valero Energy Partners and gave the stock a “buy” rating in a report on Saturday, October 15th. TheStreet raised Valero Energy Partners from a “c+” rating to a “b-” rating in a report on Monday, January 30th. Zacks Investment Research cut Valero Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, January 24th. Mizuho lowered their price target on Valero Energy Partners from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 31st. Finally, Morgan Stanley cut Valero Energy Partners from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $49.00 to $51.00 in a report on Friday, January 6th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $53.70.
Shares of Valero Energy Partners (NYSE:VLP) opened at 49.41 on Monday. The company has a market capitalization of $3.33 billion, a PE ratio of 18.77 and a beta of 0.77. The company has a 50-day moving average price of $46.15 and a 200 day moving average price of $42.68. Valero Energy Partners has a one year low of $38.90 and a one year high of $51.69.
Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.08. The business had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $101.32 million. Valero Energy Partners had a return on equity of 116.22% and a net margin of 56.33%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities analysts anticipate that Valero Energy Partners will post $2.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Thursday, February 2nd will be issued a dividend of $0.4065 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, January 31st. Valero Energy Partners’s dividend payout ratio (DPR) is currently 57.80%.
Institutional investors have recently made changes to their positions in the stock. Balentine LLC purchased a new position in shares of Valero Energy Partners during the second quarter worth $102,000. Signaturefd LLC boosted its position in shares of Valero Energy Partners by 4.5% in the second quarter. Signaturefd LLC now owns 3,475 shares of the company’s stock worth $163,000 after buying an additional 150 shares in the last quarter. US Bancorp DE boosted its position in shares of Valero Energy Partners by 4.7% in the second quarter. US Bancorp DE now owns 3,544 shares of the company’s stock worth $167,000 after buying an additional 160 shares in the last quarter. Raymond James & Associates boosted its position in shares of Valero Energy Partners by 2.7% in the second quarter. Raymond James & Associates now owns 4,595 shares of the company’s stock worth $216,000 after buying an additional 119 shares in the last quarter. Finally, EP Wealth Advisors Inc. purchased a new position in shares of Valero Energy Partners during the third quarter worth $230,000. 30.71% of the stock is currently owned by institutional investors.
Valero Energy Partners Company Profile
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 pipeline and terminal systems in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the following Valero Energy Corporation (Valero) refineries, such as Port Arthur Refinery-Port Arthur, Texas; McKee Refinery-Sunray, Texas; Three Rivers Refinery-Three Rivers, Texas; Memphis Refinery-Memphis, Tennessee; Ardmore Refinery-Ardmore, Oklahoma; St.