Lehigh Gas Partners Upgraded by Zacks to “Neutral” (LGP)
Lehigh Gas Partners (NYSE:LGP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday. The firm currently has a $36.40 target price on the stock. Zacks‘s price objective suggests a potential upside of 2.59% from the company’s current price.
Shares of Lehigh Gas Partners (NYSE:LGP) traded down 2.48% during mid-day trading on Tuesday, hitting $34.60. The stock had a trading volume of 95,268 shares. Lehigh Gas Partners has a 52 week low of $25.50 and a 52 week high of $35.59. The stock’s 50-day moving average is $27.18 and its 200-day moving average is $26.99. The company has a market cap of $647.7 million and a price-to-earnings ratio of 36.62.
Lehigh Gas Partners (NYSE:LGP) last released its earnings data on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $767.20 million for the quarter, compared to the consensus estimate of $619.48 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Analysts expect that Lehigh Gas Partners will post $0.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Monday, August 18th will be given a dividend of $0.5225 per share. This represents a $2.09 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, August 14th. This is a boost from Lehigh Gas Partners’s previous quarterly dividend of $0.51.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich raised their price target on shares of Lehigh Gas Partners from $32.00 to $42.00 in a research note on Monday. They now have a “buy” rating on the stock. Analysts at Raymond James raised their price target on shares of Lehigh Gas Partners from $33.00 to $40.00 in a research note on Friday. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.08.
Lehigh Gas Partners LP is engaged in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and to own and lease real estate used in the retail distribution of motor fuels.
To view Zacks’ full report, visit Zacks’ official website.
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