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

Several other hedge funds have also modified their holdings of VLP. Country Club Trust Company n.a. boosted its stake in shares of Valero Energy Partners by 2.5% in the first quarter. Country Club Trust Company n.a. now owns 11,957 shares of the pipeline company’s stock worth $573,000 after buying an additional 289 shares during the period. US Bancorp DE boosted its stake in Valero Energy Partners by 39.7% in the first quarter. US Bancorp DE now owns 4,727 shares of the pipeline company’s stock worth $226,000 after buying an additional 1,343 shares during the period. Diversified Trust Co boosted its stake in Valero Energy Partners by 24.4% in the first quarter. Diversified Trust Co now owns 14,733 shares of the pipeline company’s stock worth $706,000 after buying an additional 2,892 shares during the period. Creative Planning boosted its stake in Valero Energy Partners by 127.7% in the first quarter. Creative Planning now owns 8,427 shares of the pipeline company’s stock worth $404,000 after buying an additional 4,726 shares during the period. Finally, Conning Inc. boosted its stake in Valero Energy Partners by 44.9% in the first quarter. Conning Inc. now owns 19,348 shares of the pipeline company’s stock worth $927,000 after buying an additional 5,991 shares during the period. 31.44% of the stock is currently owned by institutional investors.

Shares of Valero Energy Partners LP (NYSE:VLP) traded down 0.15% on Friday, hitting $40.95. 64,666 shares of the company’s stock traded hands. Valero Energy Partners LP has a 1-year low of $38.90 and a 1-year high of $51.00. The firm’s 50-day moving average price is $44.93 and its 200 day moving average price is $46.46. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 13.56 and a beta of 0.74.

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 266.53% 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. On average, equities research analysts expect that Valero Energy Partners LP will post $2.90 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Tuesday, August 1st were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, July 28th. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.44%. Valero Energy Partners’s dividend payout ratio is 61.69%.

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A number of analysts recently weighed in on VLP shares. Citigroup Inc. reaffirmed a “neutral” rating and issued a $50.00 price objective (up previously from $46.00) on shares of Valero Energy Partners in a report on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Valero Energy Partners in a report on Friday, April 21st. Scotiabank reissued a “buy” rating and set a $51.00 target price on shares of Valero Energy Partners in a research note on Thursday, April 27th. Barclays PLC reissued an “overweight” rating and set a $55.00 target price on shares of Valero Energy Partners in a research note on Tuesday, May 2nd. Finally, ValuEngine raised shares of Valero Energy Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average 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)

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