Valero Energy Partners LP (NYSE:VLP) – Research analysts at Jefferies Group lifted their FY2016 earnings per share (EPS) estimates for Valero Energy Partners in a research report issued on Thursday. Jefferies Group analyst C. Goldman now forecasts that the firm will earn $2.67 per share for the year, up from their previous forecast of $2.58. Jefferies Group currently has a “Buy” rating and a $53.00 target price on the stock. Jefferies Group also issued estimates for Valero Energy Partners’ FY2017 earnings at $3.45 EPS.
A number of other brokerages have also commented on VLP. TheStreet upgraded shares of Valero Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Mizuho began coverage on shares of Valero Energy Partners in a research note on Thursday, September 29th. They set a “buy” rating and a $57.00 price target for the company. Mitsubishi UFJ Financial Group upgraded shares of Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research note on Friday, July 22nd. Credit Suisse Group AG set a $55.00 price target on shares of Valero Energy Partners and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Finally, Morgan Stanley set a $58.00 price target on shares of Valero Energy Partners and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Valero Energy Partners presently has a consensus rating of “Buy” and an average target price of $55.67.
Shares of Valero Energy Partners (NYSE:VLP) opened at 42.98 on Friday. The firm has a 50-day moving average of $42.56 and a 200-day moving average of $44.26. The firm has a market cap of $2.84 billion, a PE ratio of 17.44 and a beta of 0.70. Valero Energy Partners has a 52 week low of $39.02 and a 52 week high of $53.25.
Valero Energy Partners (NYSE:VLP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm earned $88 million during the quarter, compared to analysts’ expectations of $85.21 million. Valero Energy Partners had a net margin of 54.83% and a return on equity of 57.89%. The company’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share.
Several institutional investors have recently modified their holdings of the company. Balentine LLC bought a new position in shares of Valero Energy Partners during the second quarter worth $102,000. Quantbot Technologies LP acquired a new stake in Valero Energy Partners during the second quarter valued at approximately $105,000. Barnett & Company Inc. acquired a new stake in Valero Energy Partners during the first quarter valued at approximately $149,000. Signaturefd LLC increased its stake in Valero Energy Partners by 4.5% in the second quarter. Signaturefd LLC now owns 3,475 shares of the company’s stock valued at $163,000 after buying an additional 150 shares during the period. Finally, US Bancorp DE increased its stake in Valero Energy Partners by 4.7% in the second quarter. US Bancorp DE now owns 3,544 shares of the company’s stock valued at $167,000 after buying an additional 160 shares during the period. 30.97% of the stock is currently owned by institutional investors.
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 pipeline and terminal systems in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the following Valero Energy Corporation (Valero) refineries, such as Port Arthur Refinery-Port Arthur, Texas; McKee Refinery-Sunray, Texas; Three Rivers Refinery-Three Rivers, Texas; Memphis Refinery-Memphis, Tennessee; Ardmore Refinery-Ardmore, Oklahoma; St.
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