Western Refining Logistics, LP (WNRL) Posts Quarterly Earnings Results
Western Refining Logistics, LP (NYSE:WNRL) posted its earnings results on Tuesday, August 8th. The pipeline company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.11, Briefing.com reports. Western Refining Logistics, had a return on equity of 78.84% and a net margin of 3.05%. The firm had revenue of $627.51 million for the quarter, compared to analyst estimates of $602.22 million. During the same quarter last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis.
Shares of Western Refining Logistics, (NYSE:WNRL) traded up 1.43% during midday trading on Friday, reaching $24.85. The company’s stock had a trading volume of 402,766 shares. Western Refining Logistics, has a 1-year low of $18.85 and a 1-year high of $26.85. The stock has a 50 day moving average of $25.40 and a 200-day moving average of $25.00. The company has a market capitalization of $1.52 billion, a P/E ratio of 20.02 and a beta of 0.81.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a $0.4675 dividend. This represents a $1.87 annualized dividend and a yield of 7.53%. The ex-dividend date was Wednesday, August 2nd. This is a boost from Western Refining Logistics,’s previous quarterly dividend of $0.45. Western Refining Logistics,’s payout ratio is 187.00%.
Several large investors have recently made changes to their positions in WNRL. Morgan Stanley raised its stake in shares of Western Refining Logistics, by 23.6% in the first quarter. Morgan Stanley now owns 2,569,281 shares of the pipeline company’s stock valued at $65,389,000 after buying an additional 490,068 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Western Refining Logistics, during the first quarter valued at approximately $11,572,000. First Trust Advisors LP purchased a new stake in shares of Western Refining Logistics, during the first quarter valued at approximately $10,561,000. Bank of Montreal Can raised its stake in shares of Western Refining Logistics, by 337.7% in the second quarter. Bank of Montreal Can now owns 370,944 shares of the pipeline company’s stock valued at $9,515,000 after buying an additional 286,200 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its stake in shares of Western Refining Logistics, by 18.2% in the second quarter. Atlantic Trust Group LLC now owns 1,725,766 shares of the pipeline company’s stock valued at $44,266,000 after buying an additional 265,327 shares during the last quarter. Institutional investors own 44.72% of the company’s stock.
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WNRL has been the topic of several recent research reports. BidaskClub upgraded Western Refining Logistics, from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded Western Refining Logistics, from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.67.
About Western Refining Logistics,
Western Refining Logistics, LP owns, operates, develops, and acquires logistics and related assets and businesses to include terminals, storage tanks, pipelines and other logistics assets related to the terminaling, transportation, storage and distribution of crude oil and refined products. The Company’s segments include logistics and wholesale.
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