FDx Advisors Inc. purchased a new stake in shares of Tesoro Logistics LP (NYSE:ANDX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,014 shares of the oil and gas company’s stock, valued at approximately $551,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANDX. IndexIQ Advisors LLC purchased a new stake in Tesoro Logistics during the third quarter valued at about $103,000. Penserra Capital Management LLC purchased a new stake in Tesoro Logistics during the third quarter valued at about $131,000. First Manhattan Co. purchased a new stake in Tesoro Logistics during the third quarter valued at about $150,000. Cedar Wealth Management LLC purchased a new stake in Tesoro Logistics during the third quarter valued at about $169,000. Finally, Saratoga Research & Investment Management bought a new position in shares of Tesoro Logistics during the third quarter valued at about $169,000. Institutional investors and hedge funds own 34.86% of the company’s stock.
Tesoro Logistics LP (NYSE:ANDX) traded up $0.01 during midday trading on Monday, hitting $46.45. The company had a trading volume of 608,657 shares, compared to its average volume of 401,500. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $10,036.43, a PE ratio of 18.80, a PEG ratio of 3.33 and a beta of 1.12. Tesoro Logistics LP has a 12 month low of $42.18 and a 12 month high of $60.14.
Tesoro Logistics (NYSE:ANDX) last posted its earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.22. The company had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. Tesoro Logistics had a return on equity of 22.48% and a net margin of 23.50%. Tesoro Logistics’s quarterly revenue was up 44.2% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. equities analysts anticipate that Tesoro Logistics LP will post 2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were given a dividend of $0.9852 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $3.94 annualized dividend and a yield of 8.48%. Tesoro Logistics’s payout ratio is 167.66%.
ANDX has been the topic of a number of recent research reports. Mitsubishi UFJ Financial Group raised Tesoro Logistics to a “buy” rating and set a $60.00 price objective on the stock in a research note on Wednesday, August 16th. Bank of America reduced their price objective on Tesoro Logistics from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 16th. Scotiabank reaffirmed a “buy” rating and set a $59.00 price objective on shares of Tesoro Logistics in a research note on Thursday, August 17th. SunTrust Banks reaffirmed a “buy” rating and set a $62.00 price objective on shares of Tesoro Logistics in a research note on Friday, November 10th. Finally, Mizuho reaffirmed a “hold” rating and set a $56.00 price objective on shares of Tesoro Logistics in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Tesoro Logistics has a consensus rating of “Hold” and a consensus target price of $55.38.
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Tesoro Logistics 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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