JPMorgan Chase & Co. raised its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 45.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 773,435 shares of the pipeline company’s stock after acquiring an additional 241,379 shares during the period. JPMorgan Chase & Co. owned approximately 1.09% of Valero Energy Partners worth $29,299,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Valero Energy Partners by 8.2% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,544,766 shares of the pipeline company’s stock worth $249,159,000 after purchasing an additional 497,690 shares during the period. Dividend Assets Capital LLC lifted its stake in shares of Valero Energy Partners by 3.6% in the 2nd quarter. Dividend Assets Capital LLC now owns 222,175 shares of the pipeline company’s stock worth $8,458,000 after purchasing an additional 7,715 shares during the period. Cadence Capital Management LLC lifted its stake in shares of Valero Energy Partners by 7.8% in the 2nd quarter. Cadence Capital Management LLC now owns 139,856 shares of the pipeline company’s stock worth $5,324,000 after purchasing an additional 10,075 shares during the period. FMR LLC lifted its stake in shares of Valero Energy Partners by 42.9% in the 2nd quarter. FMR LLC now owns 138,900 shares of the pipeline company’s stock worth $5,288,000 after purchasing an additional 41,700 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Valero Energy Partners in the 2nd quarter worth approximately $3,399,000. Institutional investors and hedge funds own 29.14% of the company’s stock.
VLP has been the topic of several recent research reports. ValuEngine cut shares of Valero Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. SunTrust Banks reiterated a “buy” rating and issued a $46.00 price objective on shares of Valero Energy Partners in a research note on Monday, August 6th. Morgan Stanley lowered their price objective on shares of Valero Energy Partners from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, August 17th. JPMorgan Chase & Co. cut shares of Valero Energy Partners from an “overweight” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research note on Friday, August 24th. Finally, US Capital Advisors cut shares of Valero Energy Partners from an “overweight” rating to a “hold” rating in a research note on Friday, September 7th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Valero Energy Partners presently has an average rating of “Hold” and an average target price of $45.29.
Valero Energy Partners stock opened at $42.03 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 15.17, a PEG ratio of 2.08 and a beta of 0.49. Valero Energy Partners LP has a 12-month low of $33.25 and a 12-month high of $48.66. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 4.57.
Valero Energy Partners (NYSE:VLP) last released its earnings results on Thursday, October 25th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. The company had revenue of $140.59 million during the quarter, compared to analyst estimates of $137.85 million. Valero Energy Partners had a net margin of 43.11% and a return on equity of 94.57%. Analysts forecast that Valero Energy Partners LP will post 2.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Thursday, November 1st were issued a $0.551 dividend. This represents a $2.20 annualized dividend and a yield of 5.24%. The ex-dividend date was Wednesday, October 31st. Valero Energy Partners’s dividend payout ratio is 79.42%.
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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 in the United States. Its assets consists of the Port Arthur logistics system, the McKee logistics system, the Memphis logistics system, the Three Rivers logistics system, the Ardmore logistics system, the Houston logistics system, the St.
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