Barclays Trims Valero Energy Partners (VLP) Target Price to $47.00

Valero Energy Partners (NYSE:VLP) had its target price decreased by research analysts at Barclays from $49.00 to $47.00 in a research report issued to clients and investors on Monday, February 5th, MarketBeat.com reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price target indicates a potential upside of 15.42% from the stock’s previous close.

VLP has been the topic of a number of other reports. Citigroup restated a “neutral” rating and set a $50.00 price objective on shares of Valero Energy Partners in a research note on Wednesday, October 18th. Zacks Investment Research cut shares of Valero Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Valero Energy Partners in a research note on Friday, October 27th. Mizuho set a $53.00 price objective on shares of Valero Energy Partners and gave the company a “buy” rating in a research note on Sunday, October 29th. Finally, Credit Suisse Group started coverage on shares of Valero Energy Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $47.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.56.

Valero Energy Partners (NYSE:VLP) opened at $40.72 on Monday. Valero Energy Partners has a 1-year low of $39.49 and a 1-year high of $51.00. The stock has a market cap of $2,877.64, a price-to-earnings ratio of 14.70, a PEG ratio of 1.07 and a beta of 0.65. 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 (NYSE:VLP) last announced its quarterly earnings results on Friday, February 2nd. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Valero Energy Partners had a net margin of 52.75% and a return on equity of 158.05%. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $123.24 million. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. sell-side analysts expect that Valero Energy Partners will post 2.94 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CNH Partners LLC raised its stake in shares of Valero Energy Partners by 1.0% during the second quarter. CNH Partners LLC now owns 10,321 shares of the pipeline company’s stock valued at $471,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its position in 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 worth $132,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. raised its position in Valero Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 5,483 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 307 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in 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 worth $1,900,000 after acquiring an additional 400 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Valero Energy Partners by 1.3% in the fourth quarter. Global X Management Co. LLC now owns 175,376 shares of the pipeline company’s stock worth $7,804,000 after acquiring an additional 2,191 shares in the last quarter. Institutional investors and hedge funds own 29.26% of the company’s stock.

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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.

Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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