Zacks: Brokerages Expect Valero Energy Partners LP (VLP) Will Post Quarterly Sales of $118.55 Million
Equities analysts predict that Valero Energy Partners LP (NYSE:VLP) will announce $118.55 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Valero Energy Partners’ earnings, with estimates ranging from $112.19 million to $125.73 million. Valero Energy Partners posted sales of $92.04 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.8%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Valero Energy Partners will report full year sales of $118.55 million for the current financial year, with estimates ranging from $449.80 million to $479.39 million. For the next year, analysts expect that the business will report sales of $587.01 million per share, with estimates ranging from $518.40 million to $695.64 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Valero Energy Partners.
Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings data on Friday, July 28th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $110.50 million for the quarter, compared to the consensus estimate of $107.14 million. Valero Energy Partners had a return on equity of 266.53% and a net margin of 55.29%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share.
A number of brokerages have commented on VLP. ValuEngine lowered Valero Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Valero Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub lowered Valero Energy Partners from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price objective on shares of Valero Energy Partners in a report on Friday, April 21st. Finally, Citigroup Inc. reissued a “buy” rating on shares of Valero Energy Partners in a report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $53.78.
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Institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in Valero Energy Partners by 3,531.4% in the first quarter. Global X Management Co. LLC now owns 159,635 shares of the pipeline company’s stock valued at $7,648,000 after buying an additional 155,239 shares in the last quarter. ING Groep NV acquired a new position in Valero Energy Partners during the first quarter valued at about $3,641,000. Dividend Assets Capital LLC acquired a new position in Valero Energy Partners during the second quarter valued at about $2,561,000. Driehaus Capital Management LLC raised its position in Valero Energy Partners by 157.0% in the first quarter. Driehaus Capital Management LLC now owns 84,286 shares of the pipeline company’s stock valued at $4,038,000 after buying an additional 51,486 shares in the last quarter. Finally, Credit Suisse AG raised its position in Valero Energy Partners by 136.4% in the first quarter. Credit Suisse AG now owns 83,660 shares of the pipeline company’s stock valued at $4,008,000 after buying an additional 48,273 shares in the last quarter. 31.89% of the stock is owned by institutional investors.
Valero Energy Partners (VLP) opened at 43.62 on Friday. Valero Energy Partners has a 1-year low of $38.90 and a 1-year high of $51.00. The company has a market capitalization of $2.97 billion, a P/E ratio of 14.44 and a beta of 0.74. The firm has a 50-day moving average price of $45.54 and a 200-day moving average price of $46.76.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Tuesday, August 1st were issued a $0.455 dividend. The ex-dividend date was Friday, July 28th. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.43. This represents a $1.82 annualized dividend and a dividend yield of 4.17%. Valero Energy Partners’s dividend payout ratio is currently 61.69%.
About Valero Energy Partners
Valero Energy Partners LP owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company’s assets include crude oil and refined petroleum products pipelines, terminals, and other logistics assets in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the ten of Valero Energy Corporation (Valero) refineries.
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