Valero Energy Partners LP (NYSE:VLP) to Post Q3 2017 Earnings of $0.66 Per Share, SunTrust Banks Forecasts

Valero Energy Partners LP (NYSE:VLP) – Investment analysts at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for shares of Valero Energy Partners in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. SunTrust Banks analyst T. Richardson now anticipates that the pipeline company will post earnings per share of $0.66 for the quarter, down from their previous estimate of $0.79. SunTrust Banks also issued estimates for Valero Energy Partners’ FY2017 earnings at $2.93 EPS, Q1 2018 earnings at $0.77 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.82 EPS and Q4 2018 earnings at $0.84 EPS.

Several other brokerages have also recently weighed in on VLP. BidaskClub cut shares of Valero Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Scotiabank set a $51.00 price objective on shares of Valero Energy Partners and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Citigroup Inc. reaffirmed a “neutral” rating and set a $50.00 price target on shares of Valero Energy Partners in a research report on Wednesday, October 18th. ValuEngine raised shares of Valero Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Valero Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $53.00.

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Shares of Valero Energy Partners (VLP) traded up $0.01 on Friday, reaching $40.72. 81,400 shares of the company’s stock traded hands, compared to its average volume of 105,564. The firm has a market capitalization of $2,831.99, a P/E ratio of 14.39, a P/E/G ratio of 1.12 and a beta of 0.73. The company has a current ratio of 4.26, a quick ratio of 5.60 and a debt-to-equity ratio of 5.05. Valero Energy Partners has a 1-year low of $38.95 and a 1-year high of $51.00.

Valero Energy Partners (NYSE:VLP) last announced its quarterly earnings data on Friday, October 27th. The pipeline company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.03). Valero Energy Partners had a net margin of 54.43% and a return on equity of 184.08%. The firm had revenue of $109.00 million for the quarter, compared to analyst estimates of $111.09 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Wednesday, November 1st were paid a $0.48 dividend. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.92 annualized dividend and a yield of 4.72%. Valero Energy Partners’s dividend payout ratio (DPR) is 67.84%.

A number of large investors have recently bought and sold shares of VLP. Bank of New York Mellon Corp purchased a new stake in Valero Energy Partners in the 1st quarter valued at about $298,000. Alliancebernstein L.P. bought a new position in Valero Energy Partners in the 1st quarter worth approximately $248,000. PNC Financial Services Group Inc. boosted its holdings in Valero Energy Partners by 471.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the pipeline company’s stock worth $124,000 after buying an additional 2,120 shares during the period. Renaissance Technologies LLC boosted its holdings in Valero Energy Partners by 14.1% in the 1st quarter. Renaissance Technologies LLC now owns 113,478 shares of the pipeline company’s stock worth $5,437,000 after buying an additional 14,036 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Valero Energy Partners by 18.2% in the 1st quarter. Bank of America Corp DE now owns 265,652 shares of the pipeline company’s stock worth $12,728,000 after buying an additional 40,863 shares during the period. Hedge funds and other institutional investors own 29.94% of the company’s stock.

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 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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Earnings History and Estimates for Valero Energy Partners (NYSE:VLP)

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