ValuEngine cut shares of Andeavor Logistics (NYSE:ANDX) from a hold rating to a sell rating in a research note released on Tuesday.
A number of other brokerages have also recently weighed in on ANDX. Credit Suisse Group initiated coverage on Andeavor Logistics in a research note on Thursday, October 11th. They issued an underperform rating and a $46.00 price objective for the company. Morgan Stanley boosted their price objective on Andeavor Logistics from $46.00 to $50.00 and gave the company a hold rating in a research note on Friday, August 24th. Wells Fargo & Co boosted their price objective on Andeavor Logistics from $45.00 to $47.00 and gave the company a hold rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Andeavor Logistics from a sell rating to a hold rating in a research note on Monday, September 24th. Finally, SunTrust Banks set a $48.00 price objective on Andeavor Logistics and gave the company a buy rating in a research note on Monday, July 23rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $52.71.
Shares of ANDX opened at $39.73 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $8.70 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 4.34 and a beta of 1.62. Andeavor Logistics has a 52-week low of $39.17 and a 52-week high of $55.21.
Andeavor Logistics (NYSE:ANDX) last announced its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.04). Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. The business had revenue of $557.00 million during the quarter, compared to analyst estimates of $527.61 million. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Andeavor Logistics will post 2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 10.37%. The ex-dividend date of this dividend is Friday, November 2nd. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. Andeavor Logistics’s dividend payout ratio is 164.14%.
In other Andeavor Logistics news, Director Jeff A. Stevens acquired 56,700 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was purchased at an average price of $48.79 per share, for a total transaction of $2,766,393.00. Following the completion of the transaction, the director now owns 402,954 shares of the company’s stock, valued at approximately $19,660,125.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff A. Stevens acquired 48,374 shares of the business’s stock in a transaction on Friday, August 10th. The stock was acquired at an average price of $49.41 per share, with a total value of $2,390,159.34. Following the transaction, the director now directly owns 345,119 shares of the company’s stock, valued at approximately $17,052,329.79. The disclosure for this purchase can be found here. Insiders have bought 182,017 shares of company stock valued at $8,984,283 in the last 90 days. Company insiders own 0.15% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ANDX. Tortoise Capital Advisors L.L.C. grew its holdings in Andeavor Logistics by 3.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 13,539,065 shares of the oil and gas company’s stock valued at $575,816,000 after purchasing an additional 417,081 shares during the last quarter. Alps Advisors Inc. grew its holdings in Andeavor Logistics by 5.7% in the third quarter. Alps Advisors Inc. now owns 7,854,437 shares of the oil and gas company’s stock valued at $381,411,000 after purchasing an additional 422,790 shares during the last quarter. Eagle Global Advisors LLC grew its holdings in Andeavor Logistics by 18.4% in the second quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock valued at $120,877,000 after purchasing an additional 440,833 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Andeavor Logistics by 2.6% in the second quarter. CIBC Private Wealth Group LLC now owns 2,358,684 shares of the oil and gas company’s stock valued at $100,316,000 after purchasing an additional 60,662 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Andeavor Logistics by 15.8% in the third quarter. Wells Fargo & Company MN now owns 1,955,183 shares of the oil and gas company’s stock valued at $94,943,000 after purchasing an additional 266,941 shares during the last quarter. Hedge funds and other institutional investors own 37.80% of the company’s stock.
About Andeavor Logistics
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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