Bank of New York Mellon Corp purchased a new position in Valero Energy Partners LP (NYSE:VLP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,226 shares of the pipeline company’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Spirit of America Management Corp NY increased its position in Valero Energy Partners by 61.1% in the first quarter. Spirit of America Management Corp NY now owns 356,490 shares of the pipeline company’s stock worth $17,079,000 after buying an additional 135,150 shares during the last quarter. ING Groep NV purchased a new stake in shares of Valero Energy Partners during the first quarter valued at $3,641,000. First Trust Advisors LP increased its stake in shares of Valero Energy Partners by 63.6% in the first quarter. First Trust Advisors LP now owns 111,503 shares of the pipeline company’s stock valued at $5,342,000 after buying an additional 43,344 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Valero Energy Partners by 2.6% in the first quarter. Chickasaw Capital Management LLC now owns 1,529,191 shares of the pipeline company’s stock valued at $73,264,000 after buying an additional 38,215 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Valero Energy Partners by 143.3% in the fourth quarter. Macquarie Group Ltd. now owns 38,200 shares of the pipeline company’s stock valued at $1,691,000 after buying an additional 22,500 shares in the last quarter. Institutional investors own 31.89% of the company’s stock.

Valero Energy Partners LP (NYSE VLP) opened at 44.71 on Tuesday. Valero Energy Partners LP has a 52 week low of $38.90 and a 52 week high of $51.00. The firm has a market cap of $3.05 billion, a PE ratio of 14.80 and a beta of 0.74. The stock has a 50 day moving average of $45.27 and a 200 day moving average of $46.92.

Valero Energy Partners (NYSE:VLP) last announced its quarterly earnings data on Friday, July 28th. The pipeline company reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $110.50 million for the quarter, compared to the consensus estimate of $107.14 million. Valero Energy Partners had a return on equity of 361.72% and a net margin of 55.29%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. Analysts anticipate that Valero Energy Partners LP will post $2.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.455 per share. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.43. This represents a $1.82 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, July 28th. Valero Energy Partners’s payout ratio is currently 61.69%.

COPYRIGHT VIOLATION NOTICE: This report was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/08/08/bank-of-new-york-mellon-corp-purchases-shares-of-6226-valero-energy-partners-lp-vlp.html.

Several brokerages recently weighed in on VLP. BidaskClub downgraded shares of Valero Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research downgraded shares of Valero Energy Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 15th. ValuEngine upgraded shares of Valero Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Scotiabank set a $51.00 price objective on shares of Valero Energy Partners and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of Valero Energy Partners in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $53.78.

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 pipelines, terminals, and other logistics assets in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the ten of Valero Energy Corporation (Valero) refineries.

Institutional Ownership by Quarter for Valero Energy Partners (NYSE:VLP)

Receive News & Stock Ratings for Valero Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy Partners LP and related stocks with our FREE daily email newsletter.