Stifel Nicolaus Downgrades World Point Terminals LP (WPT) to Hold
World Point Terminals LP (NYSE:WPT) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Separately, Zacks Investment Research lowered shares of World Point Terminals from a “buy” rating to a “hold” rating in a research report on Saturday, August 13th.
Shares of World Point Terminals (NYSE:WPT) opened at 15.39 on Friday. The firm has a market cap of $536.51 million, a price-to-earnings ratio of 15.77 and a beta of 0.28. The company’s 50 day moving average is $14.97 and its 200 day moving average is $15.29. World Point Terminals has a 52-week low of $11.79 and a 52-week high of $16.49.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 28th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.79%. The ex-dividend date is Wednesday, October 26th. World Point Terminals’s dividend payout ratio is 117.65%.
Hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System acquired a new stake in World Point Terminals during the second quarter valued at about $248,000. Stephens Inc. AR raised its stake in World Point Terminals by 2.9% in the second quarter. Stephens Inc. AR now owns 55,515 shares of the company’s stock valued at $877,000 after buying an additional 1,566 shares during the period. Wells Fargo & Company MN raised its stake in World Point Terminals by 26.1% in the third quarter. Wells Fargo & Company MN now owns 194,515 shares of the company’s stock valued at $2,916,000 after buying an additional 40,304 shares during the period. Parkside Financial Bank & Trust acquired a new stake in World Point Terminals during the third quarter valued at about $571,000. Finally, Morgan Stanley raised its stake in World Point Terminals by 35.8% in the third quarter. Morgan Stanley now owns 70,412 shares of the company’s stock valued at $1,055,000 after buying an additional 18,558 shares during the period. 28.06% of the stock is currently owned by institutional investors and hedge funds.
World Point Terminals Company Profile
World Point Terminals, LP owns, operates, develops and acquires liquid bulk storage terminals and other assets relating to the storage of petroleum products, including light refined products, heavy refined products and crude oil. The Company operates fee-based facilities located along the East Coast, Gulf Coast and Midwest regions of the United States.
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