Wells Fargo & Company MN Acquires 22,129 Shares of Valero Energy Partners LP (VLP)
Wells Fargo & Company MN raised its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,360 shares of the company’s stock after buying an additional 22,129 shares during the period. Wells Fargo & Company MN owned about 0.50% of Valero Energy Partners worth $14,346,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. UBS Group AG increased its position in shares of Valero Energy Partners by 172.3% in the first quarter. UBS Group AG now owns 20,274 shares of the company’s stock worth $960,000 after buying an additional 12,829 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Valero Energy Partners by 1.5% in the first quarter. Nuveen Asset Management LLC now owns 23,388 shares of the company’s stock worth $1,108,000 after buying an additional 339 shares during the last quarter. Barnett & Company Inc. purchased a new position in shares of Valero Energy Partners during the first quarter worth about $149,000. Spirit of America Management Corp NY increased its position in shares of Valero Energy Partners by 26.2% in the second quarter. Spirit of America Management Corp NY now owns 208,940 shares of the company’s stock worth $9,822,000 after buying an additional 43,400 shares during the last quarter. Finally, Hollencrest Securities LLC purchased a new position in shares of Valero Energy Partners during the second quarter worth about $273,000. Institutional investors and hedge funds own 30.60% of the company’s stock.
Shares of Valero Energy Partners LP (NYSE:VLP) traded down 1.06% during mid-day trading on Monday, reaching $41.00. 55,427 shares of the company’s stock traded hands. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 15.57 and a beta of 0.75. Valero Energy Partners LP has a one year low of $38.90 and a one year high of $53.25. The firm’s 50-day moving average is $41.21 and its 200 day moving average is $43.00.
Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.11. The business had revenue of $92 million for the quarter, compared to analysts’ expectations of $89.82 million. Valero Energy Partners had a net margin of 55.97% and a return on equity of 92.55%. The business’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. Analysts predict that Valero Energy Partners LP will post $2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, November 3rd were issued a $0.385 dividend. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $1.54 annualized dividend and a yield of 3.72%. Valero Energy Partners’s dividend payout ratio (DPR) is 56.83%.
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A number of research analysts have recently issued reports on VLP shares. Mizuho initiated coverage on shares of Valero Energy Partners in a research report on Thursday, September 29th. They issued a “buy” rating and a $57.00 price objective on the stock. Credit Suisse Group AG set a $55.00 target price on shares of Valero Energy Partners and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. TheStreet downgraded shares of Valero Energy Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 18th. Jefferies Group initiated coverage on shares of Valero Energy Partners in a research report on Tuesday, August 23rd. They set a “buy” rating and a $53.00 target price on the stock. Finally, Morgan Stanley set a $58.00 target price on shares of Valero Energy Partners and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Valero Energy Partners currently has a consensus rating of “Buy” and a consensus price target of $54.67.
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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