First Trust Advisors LP decreased its holdings in PBF Logistics LP (NYSE:PBFX) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,203 shares of the pipeline company’s stock after selling 14,706 shares during the quarter. First Trust Advisors LP owned approximately 0.49% of PBF Logistics worth $4,671,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in PBFX. PNC Financial Services Group Inc. grew its holdings in PBF Logistics by 227.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock valued at $94,000 after buying an additional 3,240 shares in the last quarter. Canton Hathaway LLC purchased a new stake in PBF Logistics in the 4th quarter valued at $151,000. Tortoise Index Solutions LLC grew its holdings in PBF Logistics by 100.0% in the 4th quarter. Tortoise Index Solutions LLC now owns 7,835 shares of the pipeline company’s stock valued at $157,000 after buying an additional 3,918 shares in the last quarter. Citigroup Inc. grew its holdings in PBF Logistics by 207.0% in the 4th quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock valued at $245,000 after buying an additional 8,218 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in PBF Logistics in the 1st quarter valued at $247,000. Institutional investors and hedge funds own 23.92% of the company’s stock.
Shares of PBF Logistics stock opened at $20.13 on Wednesday. PBF Logistics LP has a 52 week low of $19.17 and a 52 week high of $23.69. The firm has a market capitalization of $1.25 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 2.93 and a beta of 0.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 3.73.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings results on Wednesday, May 1st. The pipeline company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). PBF Logistics had a net margin of 25.11% and a return on equity of 45.77%. The business had revenue of $78.85 million during the quarter, compared to analyst estimates of $79.08 million. During the same period last year, the company earned $0.43 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities analysts forecast that PBF Logistics LP will post 1.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 10.13%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.51. PBF Logistics’s dividend payout ratio is 112.09%.
PBFX has been the subject of several analyst reports. Wells Fargo & Co restated a “hold” rating on shares of PBF Logistics in a report on Monday, February 18th. Zacks Investment Research lowered PBF Logistics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th.
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PBF Logistics Company Profile
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.
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