World Point Terminals LP (NYSE:WPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “World Point Terminals, LP owns, operates, develops and acquires terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. The Company’s storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the United States. It provides terminaling and storage of light refined products, such as gasoline, distillates and jet fuels; heavy refined products, such as residual fuel oils and liquid asphalt, and crude oil. World Point Terminals, LP is headquartered in St. Louis, Missouri. “

Separately, Stifel Nicolaus lowered World Point Terminals from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Friday.

Shares of World Point Terminals (NYSE:WPT) opened at 15.23 on Friday. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $15.29. The stock has a market capitalization of $530.93 million, a P/E ratio of 15.60 and a beta of 0.28. World Point Terminals has a 12-month low of $11.79 and a 12-month high of $16.49.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Friday, October 28th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 26th. This represents a $1.20 annualized dividend and a dividend yield of 7.88%. World Point Terminals’s dividend payout ratio is presently 117.65%.

Several hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR increased its stake in shares of 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 in the last quarter. California Public Employees Retirement System acquired a new stake in shares of World Point Terminals during the second quarter valued at $248,000. Morgan Stanley increased its stake in shares of 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 in the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of World Point Terminals during the third quarter valued at $571,000. Finally, Wells Fargo & Company MN increased its stake in shares of 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 in the last quarter. Institutional investors own 28.06% of the company’s stock.

About World Point Terminals

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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