Valero Energy Partners LP (VLP) Plans $0.51 Dividend

Valero Energy Partners LP (NYSE:VLP) declared a dividend on Wednesday, January 24th, Fidelity reports. Investors of record on Monday, February 5th will be given a dividend of 0.5075 per share by the pipeline company on Tuesday, February 13th. This represents a dividend yield of 0.0109210243167635%. The ex-dividend date of this dividend is Friday, February 2nd.

Valero Energy Partners has increased its dividend by an average of 35.4% per year over the last three years and has increased its dividend every year for the last 3 years. Valero Energy Partners has a dividend payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valero Energy Partners to earn $3.10 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 61.9%.

Valero Energy Partners (NYSE VLP) opened at $46.47 on Friday. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 5.05. Valero Energy Partners has a twelve month low of $39.52 and a twelve month high of $51.00. The company has a market cap of $3,297.42, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.16 and a beta of 0.69.

Valero Energy Partners (NYSE:VLP) last announced its quarterly earnings results on Friday, October 27th. The pipeline company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.03). The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $111.09 million. Valero Energy Partners had a net margin of 54.43% and a return on equity of 184.08%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. research analysts forecast that Valero Energy Partners will post 2.8 earnings per share for the current year.

Several brokerages have weighed in on VLP. Credit Suisse Group began coverage on shares of Valero Energy Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $47.00 price target for the company. Barclays cut shares of Valero Energy Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $50.00 to $49.00 in a research report on Wednesday, January 17th. Mizuho set a $53.00 price target on shares of Valero Energy Partners and gave the company a “buy” rating in a research report on Sunday, October 29th. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of Valero Energy Partners in a research report on Friday, October 27th. Finally, Zacks Investment Research cut shares of Valero Energy Partners from a “hold” rating to a “sell” rating in a research report on Sunday, January 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $51.75.

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Valero Energy Partners Company Profile

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.

Dividend History for Valero Energy Partners (NYSE:VLP)

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