Conning Inc. increased its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,658 shares of the pipeline company’s stock after buying an additional 310 shares during the period. Conning Inc.’s holdings in Valero Energy Partners were worth $897,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in VLP. Dividend Assets Capital LLC bought a new position in shares of Valero Energy Partners during the second quarter valued at $2,561,000. Global X Management Co. LLC boosted its position in shares of Valero Energy Partners by 6.1% in the second quarter. Global X Management Co. LLC now owns 169,323 shares of the pipeline company’s stock valued at $7,728,000 after buying an additional 9,688 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Valero Energy Partners by 0.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 5,708,482 shares of the pipeline company’s stock valued at $260,535,000 after buying an additional 30,024 shares in the last quarter. Sei Investments Co. bought a new position in shares of Valero Energy Partners during the second quarter valued at $197,000. Finally, US Bancorp DE boosted its position in shares of Valero Energy Partners by 31.7% in the second quarter. US Bancorp DE now owns 6,227 shares of the pipeline company’s stock valued at $284,000 after buying an additional 1,500 shares in the last quarter. 31.44% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Partners LP (NYSE VLP) opened at 41.63 on Wednesday. Valero Energy Partners LP has a 12-month low of $38.90 and a 12-month high of $51.00. The stock’s 50 day moving average price is $45.34 and its 200-day moving average price is $46.59. The firm has a market cap of $2.84 billion, a PE ratio of 13.78 and a beta of 0.74.

Valero Energy Partners (NYSE:VLP) last issued its quarterly earnings data on Friday, July 28th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.03. Valero Energy Partners had a return on equity of 266.53% and a net margin of 55.29%. The business had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $107.14 million. During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts anticipate that Valero Energy Partners LP will post $2.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Tuesday, August 1st were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Friday, July 28th. This is an increase from Valero Energy Partners’s previous quarterly dividend of $0.43. Valero Energy Partners’s dividend payout ratio (DPR) is 61.69%.

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Several equities analysts have weighed in on the company. BidaskClub cut Valero Energy Partners from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Zacks Investment Research raised Valero Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Scotiabank set a $51.00 price objective on Valero Energy Partners and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, ValuEngine raised Valero Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Valero Energy Partners has a consensus rating of “Buy” and a consensus price target of $53.78.

About Valero Energy Partners

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)

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