Alon USA Partners LP (ALDW) Given Consensus Recommendation of “Hold” by Brokerages
Alon USA Partners LP (NYSE:ALDW) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.70.
ALDW has been the topic of several research reports. Citigroup Inc reissued a “buy” rating and issued a $12.00 price target (down previously from $13.50) on shares of Alon USA Partners in a research report on Saturday, April 22nd. Stifel Nicolaus raised shares of Alon USA Partners from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Friday, April 21st. Finally, Credit Suisse Group AG raised shares of Alon USA Partners from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $11.00 to $12.00 in a research report on Friday, April 21st.
Hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in Alon USA Partners by 239.3% in the first quarter. Morgan Stanley now owns 1,116,396 shares of the oil and gas company’s stock worth $10,226,000 after buying an additional 787,330 shares during the period. FMR LLC raised its stake in Alon USA Partners by 13.6% in the first quarter. FMR LLC now owns 501,471 shares of the oil and gas company’s stock worth $4,593,000 after buying an additional 59,900 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Alon USA Partners during the first quarter worth $321,000. HITE Hedge Asset Management LLC purchased a new stake in Alon USA Partners during the first quarter worth $2,523,000. Finally, Bank of New York Mellon Corp raised its stake in Alon USA Partners by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 271,529 shares of the oil and gas company’s stock worth $2,487,000 after buying an additional 1,528 shares during the period. 4.07% of the stock is currently owned by institutional investors and hedge funds.
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Alon USA Partners (NYSE:ALDW) opened at 11.45 on Tuesday. The company’s market capitalization is $715.85 million. Alon USA Partners has a 12-month low of $7.63 and a 12-month high of $12.44. The firm has a 50-day moving average of $9.43 and a 200 day moving average of $9.50.
Alon USA Partners (NYSE:ALDW) last posted its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.22. Alon USA Partners had a net margin of 0.11% and a return on equity of 1.64%. The company had revenue of $544.50 million for the quarter, compared to analyst estimates of $427.82 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 48.0% compared to the same quarter last year. Analysts forecast that Alon USA Partners will post $0.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Monday, May 22nd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 13.28%. The ex-dividend date of this dividend is Thursday, May 18th. This is a positive change from Alon USA Partners’s previous quarterly dividend of $0.11. Alon USA Partners’s dividend payout ratio is 2,000.67%.
Alon USA Partners Company Profile
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas. The Company had a crude oil throughput capacity of 73,000 barrels per day, which the Company referred to as its Big Spring refinery, as of December 31, 2016. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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