Valero Energy Partners LP (NYSE:VLP) – Equities researchers at Jefferies Group upped their FY2016 EPS estimates for shares of Valero Energy Partners in a research note issued on Thursday. Jefferies Group analyst C. Goldman now forecasts that the firm will post earnings of $2.67 per share for the year, up from their previous forecast of $2.58. Jefferies Group has a “Buy” rating and a $53.00 price objective on the stock. Jefferies Group also issued estimates for Valero Energy Partners’ FY2017 earnings at $3.45 EPS.
Several other brokerages have also weighed in on VLP. Credit Suisse Group AG raised Valero Energy Partners from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $60.00 to $55.00 in a report on Monday, August 8th. They noted that the move was a valuation call. TheStreet lowered Valero Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Morgan Stanley reissued a “buy” rating and set a $58.00 price objective on shares of Valero Energy Partners in a report on Friday, August 5th. Barclays PLC reduced their price objective on Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 8th. Finally, Mitsubishi UFJ Financial Group raised Valero Energy Partners from a “neutral” rating to an “overweight” rating in a report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.67.
Shares of Valero Energy Partners (NYSE:VLP) opened at 42.98 on Friday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 17.44 and a beta of 0.70. Valero Energy Partners has a 12 month low of $39.02 and a 12 month high of $53.25. The company’s 50-day moving average price is $42.56 and its 200-day moving average price is $44.26.
Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company earned $88 million during the quarter, compared to analysts’ expectations of $85.21 million. Valero Energy Partners had a return on equity of 57.89% and a net margin of 54.83%. Valero Energy Partners’s revenue was up 45.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS.
A number of large investors have recently added to or reduced their stakes in VLP. Balentine LLC purchased a new stake in Valero Energy Partners during the second quarter worth $102,000. Quantbot Technologies LP purchased a new stake in Valero Energy Partners during the second quarter worth $105,000. Barnett & Company Inc. purchased a new stake in Valero Energy Partners during the first quarter worth $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 worth $163,000 after buying an additional 150 shares during the last quarter. 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 worth $167,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.
Valero Energy Partners Company Profile
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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