PBF Logistics LP (PBFX) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of PBF Logistics LP (NYSE:PBFX) from a strong sell rating to a sell rating in a research report released on Friday morning.
Several other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of PBF Logistics from a hold rating to a buy rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of PBF Logistics from a sell rating to a hold rating in a report on Wednesday, October 18th. UBS AG lowered their target price on shares of PBF Logistics from $28.00 to $24.00 and set a buy rating on the stock in a report on Tuesday, October 17th. Finally, Credit Suisse Group set a $24.00 target price on shares of PBF Logistics and gave the stock a hold rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $24.00.
Shares of PBF Logistics (PBFX) traded down $0.15 during midday trading on Friday, hitting $20.45. 50,604 shares of the stock traded hands, compared to its average volume of 75,734. PBF Logistics has a 52-week low of $17.45 and a 52-week high of $22.70. The firm has a market capitalization of $856.75, a price-to-earnings ratio of 9.15, a P/E/G ratio of 2.32 and a beta of 1.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The firm had revenue of $65.50 million for the quarter, compared to analyst estimates of $64.60 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. sell-side analysts forecast that PBF Logistics will post 2.2 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date is Friday, November 10th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47. PBF Logistics’s dividend payout ratio is currently 89.10%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global X MANAGEMENT CO LLC raised its holdings in shares of PBF Logistics by 3.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after acquiring an additional 13,150 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of PBF Logistics in the 3rd quarter worth about $468,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of PBF Logistics in the 3rd quarter worth about $1,222,000. NBW Capital LLC raised its holdings in shares of PBF Logistics by 2.8% in the 2nd quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after acquiring an additional 11,006 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of PBF Logistics by 9.1% in the 2nd quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after acquiring an additional 1,114 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.
About PBF Logistics
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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