PBF Logistics LP (NYSE:PBFX) Rating Increased to Buy at BidaskClub
BidaskClub upgraded shares of PBF Logistics LP (NYSE:PBFX) from a hold rating to a buy rating in a research report sent to investors on Wednesday, August 9th.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of PBF Logistics from a hold rating to a sell rating in a research report on Wednesday, August 9th. Credit Suisse Group set a $24.00 price target on shares of PBF Logistics and gave the company a hold rating in a research report on Saturday, August 5th. ValuEngine raised shares of PBF Logistics from a hold rating to a buy rating in a research report on Thursday, July 6th. Finally, TheStreet raised shares of PBF Logistics from a d rating to a c rating in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $24.00.
PBF Logistics (NYSE PBFX) traded down 1.18% on Wednesday, hitting $20.85. The stock had a trading volume of 83,294 shares. The firm’s 50 day moving average price is $20.30 and its 200-day moving average price is $20.42. The stock has a market cap of $873.45 million, a PE ratio of 9.44 and a beta of 1.34. PBF Logistics has a 12 month low of $17.45 and a 12 month high of $22.70.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $58.69 million. PBF Logistics had a net margin of 39.25% and a return on equity of 62.40%. The firm’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, analysts forecast that PBF Logistics will post $2.32 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from PBF Logistics’s previous quarterly dividend of $0.46. PBF Logistics’s dividend payout ratio (DPR) is 89.10%.
A number of hedge funds have recently bought and sold shares of the stock. NBW Capital LLC increased its stake in PBF Logistics by 2.8% in the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock valued at $7,864,000 after buying an additional 11,006 shares during the period. GSA Capital Partners LLP increased its stake in PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after buying an additional 1,114 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after buying an additional 2,600 shares during the period. Wells Fargo & Company MN increased its stake in PBF Logistics by 18.5% in the second quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after buying an additional 12,852 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in PBF Logistics by 3,128.1% in the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after buying an additional 43,918 shares during the period. Hedge funds and other institutional investors own 70.97% of the company’s stock.
PBF Logistics Company Profile
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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