Valero Energy Partners (VLP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Valero Energy Partners (NYSE:VLP) from a hold rating to a sell rating in a report released on Sunday.

According to Zacks, “Valero Energy Partners LP is engaged in the ownership, development and acquisition of crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. The Company’s assets primarily situated in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero Energy Corporation’s refinery based in Port Arthur, Texas, McKee refinery based in Sunray, Texas and its refinery based in Memphis, Tennessee. Valero Energy Partners LP is based in San Antonio, United States. “

Other analysts have also issued reports about the company. Mizuho set a $53.00 target price on Valero Energy Partners and gave the company a buy rating in a research report on Sunday, October 29th. Barclays lowered Valero Energy Partners from an overweight rating to an equal weight rating and decreased their target price for the company from $50.00 to $49.00 in a research report on Wednesday, January 17th. Citigroup reaffirmed a neutral rating and issued a $50.00 target price on shares of Valero Energy Partners in a research report on Wednesday, October 18th. Credit Suisse Group started coverage on Valero Energy Partners in a research report on Thursday, January 4th. They issued a neutral rating and a $47.00 target price for the company. Finally, Mitsubishi UFJ Financial Group reaffirmed an overweight rating on shares of Valero Energy Partners in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $51.75.

Shares of Valero Energy Partners (NYSE:VLP) traded up $0.63 during trading hours on Friday, hitting $46.55. The stock had a trading volume of 90,000 shares, compared to its average volume of 95,677. The firm has a market cap of $3,290.00, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The company has a debt-to-equity ratio of 5.05, a current ratio of 4.26 and a quick ratio of 4.26. Valero Energy Partners has a 12 month low of $39.52 and a 12 month 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The business had revenue of $109.00 million during the quarter, compared to analyst estimates of $111.09 million. Valero Energy Partners had a net margin of 54.43% and a return on equity of 184.08%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. research analysts predict that Valero Energy Partners will post 2.81 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Chickasaw Capital Management LLC increased its holdings in Valero Energy Partners by 3.8% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,557,987 shares of the pipeline company’s stock worth $69,330,000 after purchasing an additional 56,425 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Valero Energy Partners by 31.7% in the 3rd quarter. Atlantic Trust Group LLC now owns 342,168 shares of the pipeline company’s stock worth $14,960,000 after buying an additional 82,320 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Valero Energy Partners by 154.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 69,866 shares of the pipeline company’s stock worth $3,055,000 after buying an additional 42,379 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Valero Energy Partners by 0.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 5,732,152 shares of the pipeline company’s stock worth $250,610,000 after buying an additional 23,670 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Valero Energy Partners by 1.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 363,642 shares of the pipeline company’s stock worth $15,899,000 after buying an additional 3,770 shares during the last quarter. 29.28% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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