Cushing Asset Management LP lifted its stake in shares of Andeavor Logistics LP (NYSE:ANDX) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,136,101 shares of the oil and gas company’s stock after acquiring an additional 7,739 shares during the quarter. Andeavor Logistics comprises approximately 3.0% of Cushing Asset Management LP’s holdings, making the stock its 8th largest position. Cushing Asset Management LP owned about 0.99% of Andeavor Logistics worth $98,667,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ANDX. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Andeavor Logistics during the 3rd quarter worth about $612,571,000. Center Coast Capital Advisors LP bought a new stake in shares of Andeavor Logistics during the 3rd quarter worth about $304,622,000. Harvest Fund Advisors LLC bought a new stake in shares of Andeavor Logistics during the 3rd quarter worth about $288,697,000. JPMorgan Chase & Co. bought a new stake in shares of Andeavor Logistics during the 3rd quarter worth about $126,099,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Andeavor Logistics during the 3rd quarter worth about $124,576,000. Institutional investors own 40.13% of the company’s stock.
Shares of Andeavor Logistics LP (NYSE ANDX) opened at $47.52 on Tuesday. Andeavor Logistics LP has a 52 week low of $42.18 and a 52 week high of $55.79. The firm has a market capitalization of $10,117.67, a P/E ratio of 18.20, a P/E/G ratio of 4.03 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.07 and a current ratio of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a dividend of $1.00 per share. This is an increase from Andeavor Logistics’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $4.00 annualized dividend and a yield of 8.42%. Andeavor Logistics’s dividend payout ratio is presently 174.67%.
Several analysts have recently issued reports on ANDX shares. SunTrust Banks set a $50.00 price target on Andeavor Logistics and gave the stock a “buy” rating in a research note on Friday, November 17th. Jefferies Group upped their price target on Andeavor Logistics from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, November 20th. Scotiabank set a $59.00 price target on Andeavor Logistics and gave the stock a “buy” rating in a research note on Thursday, December 7th. Credit Suisse Group began coverage on Andeavor Logistics in a research note on Thursday, January 4th. They set a “neutral” rating and a $48.00 price target for the company. Finally, Bank of America began coverage on Andeavor Logistics in a research note on Tuesday, January 9th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $54.63.
In other news, Director Jeff A. Stevens purchased 41,835 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $47.29 per share, with a total value of $1,978,377.15. Following the acquisition, the director now directly owns 259,474 shares in the company, valued at approximately $12,270,525.46. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeff A. Stevens purchased 11,980 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $48.00 per share, with a total value of $575,040.00. Following the acquisition, the director now owns 240,150 shares in the company, valued at $11,527,200. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 83,929 shares of company stock valued at $3,944,382. 0.15% of the stock is owned by corporate insiders.
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Andeavor Logistics Company Profile
Andeavor Logistics LP, formerly Tesoro Logistics LP, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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