Freestone Capital Holdings LLC increased its stake in shares of Andeavor Logistics LP (NYSE:ANDX) by 80.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,733 shares of the oil and gas company’s stock after buying an additional 49,324 shares during the quarter. Freestone Capital Holdings LLC owned about 0.05% of Andeavor Logistics worth $4,962,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Andeavor Logistics by 4.2% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 13,121,984 shares of the oil and gas company’s stock valued at $587,996,000 after buying an additional 524,864 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Andeavor Logistics during the fourth quarter valued at $216,686,000. Advisory Research Inc. grew its holdings in shares of Andeavor Logistics by 3.6% during the fourth quarter. Advisory Research Inc. now owns 2,776,735 shares of the oil and gas company’s stock valued at $128,258,000 after buying an additional 97,317 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Andeavor Logistics by 49.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,419,590 shares of the oil and gas company’s stock valued at $111,761,000 after buying an additional 805,791 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in shares of Andeavor Logistics by 5.8% during the first quarter. Eagle Global Advisors LLC now owns 2,401,317 shares of the oil and gas company’s stock valued at $107,603,000 after buying an additional 131,664 shares during the last quarter. 41.18% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ANDX opened at $43.96 on Thursday. Andeavor Logistics LP has a one year low of $40.66 and a one year high of $55.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 4.57 and a beta of 1.23.
Andeavor Logistics (NYSE:ANDX) last posted its quarterly earnings results on Monday, May 7th. The oil and gas company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.05). Andeavor Logistics had a net margin of 15.88% and a return on equity of 19.18%. The business had revenue of $535.00 million during the quarter, compared to analysts’ expectations of $1.06 billion. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. sell-side analysts anticipate that Andeavor Logistics LP will post 2.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were paid a dividend of $1.015 per share. This is a positive change from Andeavor Logistics’s previous quarterly dividend of $1.00. This represents a $4.06 annualized dividend and a dividend yield of 9.24%. The ex-dividend date was Monday, April 30th. Andeavor Logistics’s dividend payout ratio is presently 161.75%.
A number of brokerages have recently weighed in on ANDX. Wells Fargo & Co lowered shares of Andeavor Logistics from an “outperform” rating to a “market perform” rating and set a $43.00 price objective on the stock. in a report on Tuesday, May 1st. JPMorgan Chase & Co. lowered shares of Andeavor Logistics from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Monday, May 21st. Royal Bank of Canada lowered shares of Andeavor Logistics from an “outperform” rating to a “sector perform” rating in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Andeavor Logistics from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, UBS Group reissued a “buy” rating and set a $56.00 price objective (down from $59.00) on shares of Andeavor Logistics in a report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $52.76.
Andeavor Logistics Profile
Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.
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