Valero Energy Partners (VLP) Downgraded to “Sell” at Zacks Investment Research

Valero Energy Partners (NYSE:VLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

According to Zacks, “Valero Energy Partners LP is engaged in the ownership, development and acquisition of crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. The Company’s assets primarily situated in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero Energy Corporation’s refinery based in Port Arthur, Texas, McKee refinery based in Sunray, Texas and its refinery based in Memphis, Tennessee. Valero Energy Partners LP is based in San Antonio, United States. “

VLP has been the subject of several other reports. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Valero Energy Partners in a research report on Friday, October 27th. Mizuho set a $53.00 price target on Valero Energy Partners and gave the stock a “buy” rating in a research note on Sunday, October 29th. Barclays cut Valero Energy Partners from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $50.00 to $49.00 in a research note on Wednesday. Credit Suisse Group assumed coverage on Valero Energy Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Citigroup restated a “neutral” rating and set a $50.00 price target on shares of Valero Energy Partners in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Valero Energy Partners has an average rating of “Hold” and a consensus price target of $51.75.

Valero Energy Partners (VLP) opened at $46.55 on Friday. The firm has a market capitalization of $3,289.64, a P/E ratio of 16.45, a P/E/G ratio of 1.14 and a beta of 0.69. Valero Energy Partners has a 52-week low of $39.52 and a 52-week high of $51.00. The company has a debt-to-equity ratio of 5.05, a current ratio of 4.26 and a quick ratio of 4.26.

Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings data on Friday, October 27th. The pipeline company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.03). The business had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $111.09 million. Valero Energy Partners had a return on equity of 184.08% and a net margin of 54.43%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. analysts anticipate that Valero Energy Partners will post 2.81 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in VLP. CNH Partners LLC raised its stake in shares of Valero Energy Partners by 1.0% in the second quarter. CNH Partners LLC now owns 10,321 shares of the pipeline company’s stock valued at $471,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Valero Energy Partners by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,870 shares of the pipeline company’s stock valued at $132,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Valero Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 5,483 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 307 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Valero Energy Partners by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 41,638 shares of the pipeline company’s stock valued at $1,900,000 after acquiring an additional 400 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Valero Energy Partners by 30.0% in the third quarter. Bank of New York Mellon Corp now owns 12,383 shares of the pipeline company’s stock valued at $541,000 after acquiring an additional 2,854 shares in the last quarter. Institutional investors own 29.30% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Valero Energy Partners (VLP) Downgraded to “Sell” at Zacks Investment Research” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/21/valero-energy-partners-vlp-downgraded-to-sell-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Valero Energy Partners (VLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

Receive News & Ratings for Valero Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply