Alps Advisors Inc. raised its stake in Valero Energy Partners LP (NYSE:VLP) by 50.3% during the third quarter, Holdings Channel reports. The firm owned 18,003 shares of the pipeline company’s stock after purchasing an additional 6,028 shares during the period. Alps Advisors Inc.’s holdings in Valero Energy Partners were worth $682,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in VLP. First Trust Advisors LP purchased a new stake in Valero Energy Partners during the 2nd quarter worth $2,989,000. Raymond James & Associates purchased a new stake in Valero Energy Partners during the 2nd quarter worth $218,000. FMR LLC increased its stake in Valero Energy Partners by 42.9% during the 2nd quarter. FMR LLC now owns 138,900 shares of the pipeline company’s stock worth $5,288,000 after buying an additional 41,700 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Valero Energy Partners during the 2nd quarter worth $3,399,000. Finally, Keybank National Association OH purchased a new stake in Valero Energy Partners during the 2nd quarter worth $220,000. Institutional investors own 27.63% of the company’s stock.
Several research firms recently issued reports on VLP. Jefferies Financial Group reaffirmed a “$38.75” rating and set a $46.00 price target on shares of Valero Energy Partners in a research note on Wednesday, July 18th. ValuEngine raised shares of Valero Energy Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Valero Energy Partners from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, October 25th. Mitsubishi UFJ Financial Group downgraded shares of Valero Energy Partners from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 26th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Valero Energy Partners in a research note on Friday, October 19th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $45.29.
VLP opened at $41.95 on Friday. The stock has a market capitalization of $2.96 billion, a PE ratio of 14.77, a P/E/G ratio of 2.13 and a beta of 0.49. Valero Energy Partners LP has a 1-year low of $33.25 and a 1-year high of $48.66. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 4.99.
Valero Energy Partners (NYSE:VLP) last released its earnings results on Thursday, October 25th. The pipeline company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. The company had revenue of $140.59 million during the quarter, compared to the consensus estimate of $137.85 million. Valero Energy Partners had a net margin of 43.11% and a return on equity of 99.47%. On average, equities analysts expect that Valero Energy Partners LP will post 2.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Thursday, November 1st will be given a $0.551 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Wednesday, October 31st. Valero Energy Partners’s payout ratio is currently 79.42%.
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 in the United States. Its assets consists of the Port Arthur logistics system, the McKee logistics system, the Memphis logistics system, the Three Rivers logistics system, the Ardmore logistics system, the Houston logistics system, the St.
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