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

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 cut shares of World Point Terminals from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Friday, November 11th.

World Point Terminals (NYSE:WPT) traded down 2.43% during midday trading on Tuesday, reaching $16.49. 33,988 shares of the company traded hands. World Point Terminals has a 12 month low of $11.79 and a 12 month high of $17.65. The firm has a market capitalization of $574.86 million, a PE ratio of 16.04 and a beta of 0.28. The company’s 50-day moving average price is $15.22 and its 200 day moving average price is $15.36.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, October 28th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, October 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.10%. World Point Terminals’s dividend payout ratio (DPR) is presently 117.65%.

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Several institutional investors have recently bought and sold shares of the company. 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 in the last quarter. California Public Employees Retirement System acquired a new stake in World Point Terminals during the second quarter valued at approximately $248,000. 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 in the last quarter. Parkside Financial Bank & Trust acquired a new stake in World Point Terminals during the third quarter valued at approximately $571,000. Finally, 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 in the last quarter. 28.31% 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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