Ballentine Partners LLC bought a new position in Andeavor Logistics LP (NASDAQ:ANDX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 22,957 shares of the company’s stock, valued at approximately $1,150,000.
Several other large investors have also added to or reduced their stakes in ANDX. Alps Advisors Inc. purchased a new stake in Andeavor Logistics during the 3rd quarter valued at about $301,485,000. Miller Howard Investments Inc. NY purchased a new stake in shares of Andeavor Logistics during the 3rd quarter valued at about $34,222,000. Duff & Phelps Investment Management Co. purchased a new stake in shares of Andeavor Logistics during the 3rd quarter valued at about $24,046,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Andeavor Logistics during the 3rd quarter valued at about $8,280,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Andeavor Logistics during the 3rd quarter valued at about $6,476,000.
ANDX has been the topic of a number of recent analyst reports. Mizuho reaffirmed a “hold” rating and set a $56.00 price target on shares of Andeavor Logistics in a report on Friday, October 20th. Scotiabank reaffirmed a “buy” rating and set a $59.00 price target on shares of Andeavor Logistics in a report on Thursday, August 17th. BidaskClub downgraded shares of Andeavor Logistics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Barclays PLC dropped their price target on shares of Andeavor Logistics from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Zacks Investment Research raised shares of Andeavor Logistics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $58.57.
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Shares of Andeavor Logistics LP (NASDAQ ANDX) traded down $0.13 during trading hours on Friday, hitting $46.03. 184,831 shares of the stock traded hands, compared to its average volume of 521,545. Andeavor Logistics LP has a 52-week low of $43.21 and a 52-week high of $60.14.
Andeavor Logistics (NASDAQ:ANDX) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.22. Andeavor Logistics had a net margin of 26.63% and a return on equity of 15.11%. The firm had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s quarterly revenue was up 44.2% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.9852 per share. This represents a $3.94 dividend on an annualized basis and a yield of 8.56%. The ex-dividend date of this dividend is Thursday, November 2nd.
In other news, insider Steven Sterin bought 1,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $47.86 per share, for a total transaction of $47,860.00. Following the purchase, the insider now owns 7,338 shares in the company, valued at $351,196.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Andeavor Logistics Company Profile
Andeavor Logistics LP, formerly Tesoro Logistics LP, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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