PBF Logistics LP (PBFX) Given Average Rating of “Hold” by Analysts
PBF Logistics LP (NYSE:PBFX) has been given a consensus recommendation of “Hold” by the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.00.
PBFX has been the topic of several recent research reports. BidaskClub upgraded PBF Logistics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 30th. UBS AG cut their price target on PBF Logistics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Zacks Investment Research upgraded PBF Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group set a $24.00 target price on PBF Logistics and gave the company a “hold” rating in a report on Saturday, August 5th.
Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP increased its position in shares of PBF Logistics by 9.1% during the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after acquiring an additional 1,114 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of PBF Logistics during the third quarter valued at approximately $468,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of PBF Logistics by 11.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after acquiring an additional 2,600 shares during the last quarter. Arrow Investment Advisors LLC purchased a new stake in shares of PBF Logistics during the third quarter valued at approximately $793,000. Finally, JPMorgan Chase & Co. increased its position in shares of PBF Logistics by 3,128.1% during the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after acquiring an additional 43,918 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.
PBF Logistics (NYSE:PBFX) opened at $19.50 on Friday. The stock has a market capitalization of $824.20, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a fifty-two week low of $17.45 and a fifty-two week high of $22.70.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $65.50 million for the quarter, compared to analyst estimates of $64.60 million. PBF Logistics had a return on equity of 64.05% and a net margin of 38.76%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. equities analysts expect that PBF Logistics will post 2.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date is Friday, November 10th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47. PBF Logistics’s dividend payout ratio (DPR) is currently 83.93%.
About PBF Logistics
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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