USD Partners LP (USDP) Rating Increased to Strong-Buy at Zacks Investment Research
USD Partners LP (NYSE:USDP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $14.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.11% from the stock’s previous close.
According to Zacks, “USD Partners LP acquires, develops and operates energy-related rail terminals and other and complementary midstream infrastructure assets and businesses. Its assets consist primarily of an origination crude-by-rail terminal in Hardisty, Alberta, Canada and two destination unit train-capable ethanol rail terminals in San Antonio, Texas, and West Colton, California. The Company also provides railcar services. USD Partners LP is headquartered in Houston, Texas. “
USDP has been the topic of a number of other reports. DA Davidson assumed coverage on shares of USD Partners in a research report on Thursday, October 6th. They set a “buy” rating and a $15.00 target price on the stock. Janney Montgomery Scott lowered shares of USD Partners from a “buy” rating to a “neutral” rating in a research report on Monday, October 17th. They noted that the move was a valuation call. FBR & Co lowered their target price on shares of USD Partners from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Citigroup Inc. raised their target price on shares of USD Partners from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.42.
Shares of USD Partners (NYSE:USDP) opened at 12.90 on Wednesday. USD Partners has a 12-month low of $4.72 and a 12-month high of $14.60. The company has a market cap of $298.66 million, a price-to-earnings ratio of 14.69 and a beta of 1.13. The stock has a 50 day moving average of $12.95 and a 200 day moving average of $11.32.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, November 7th will be issued a $0.3225 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.29 dividend on an annualized basis and a yield of 9.96%. This is an increase from USD Partners’s previous quarterly dividend of $0.32.
A number of large investors have recently added to or reduced their stakes in USDP. Evergreen Capital Management LLC increased its stake in USD Partners by 0.4% in the second quarter. Evergreen Capital Management LLC now owns 763,885 shares of the company’s stock worth $7,364,000 after buying an additional 3,250 shares during the period. Financial Counselors Inc. acquired a new stake in USD Partners during the second quarter worth approximately $142,000. GSA Capital Partners LLP increased its stake in USD Partners by 91.8% in the second quarter. GSA Capital Partners LLP now owns 26,083 shares of the company’s stock worth $251,000 after buying an additional 12,483 shares during the period. Finally, Creative Planning increased its stake in USD Partners by 45.9% in the third quarter. Creative Planning now owns 15,878 shares of the company’s stock worth $197,000 after buying an additional 4,995 shares during the period.
USD Partners Company Profile
USD Partners LP (USD Partners) is a fee-based, master limited partnership formed by US Development Group LLC (USD) to acquire, develop and operate energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company conducts its business through two segments: Terminalling services and Fleet services.
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