Zacks Investment Research upgraded shares of Valero Energy Partners LP (NYSE:VLP) from a sell rating to a hold rating in a research note published on Friday morning.

According to Zacks, “Valero Energy Partners LP is engaged in the ownership, development and acquisition of crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. The Company’s assets primarily situated in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero Energy Corporation’s refinery based in Port Arthur, Texas, McKee refinery based in Sunray, Texas and its refinery based in Memphis, Tennessee. Valero Energy Partners LP is based in San Antonio, United States. “

Several other analysts have also issued reports on VLP. BidaskClub lowered Valero Energy Partners from a hold rating to a sell rating in a research note on Friday, July 28th. Mitsubishi UFJ Financial Group restated an overweight rating on shares of Valero Energy Partners in a research note on Friday, October 27th. Citigroup Inc. restated a neutral rating and issued a $50.00 price objective on shares of Valero Energy Partners in a research note on Wednesday, October 18th. Jefferies Group LLC upgraded Valero Energy Partners from a hold rating to a buy rating and dropped their price objective for the company from $51.00 to $50.00 in a research note on Wednesday, August 23rd. Finally, ValuEngine upgraded Valero Energy Partners from a hold rating to a buy rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $53.00.

Shares of Valero Energy Partners (NYSE:VLP) opened at $40.52 on Friday. The company has a debt-to-equity ratio of 5.05, a current ratio of 4.26 and a quick ratio of 4.26. The stock has a market capitalization of $2,832.69, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.12 and a beta of 0.73. Valero Energy Partners has a 52 week low of $39.00 and a 52 week high of $51.00.

Valero Energy Partners (NYSE:VLP) last released its quarterly earnings data on Friday, October 27th. The pipeline company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). The business had revenue of $109.00 million during the quarter, compared to the consensus estimate of $111.09 million. Valero Energy Partners had a net margin of 54.43% and a return on equity of 184.08%. Valero Energy Partners’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. equities research analysts forecast that Valero Energy Partners will post 2.8 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.74%. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.46. Valero Energy Partners’s dividend payout ratio (DPR) is 67.84%.

A number of large investors have recently modified their holdings of VLP. Bank of New York Mellon Corp acquired a new stake in Valero Energy Partners during the first quarter worth approximately $298,000. Alliancebernstein L.P. acquired a new stake in Valero Energy Partners during the first quarter worth approximately $248,000. PNC Financial Services Group Inc. grew its position in Valero Energy Partners by 471.1% during the first quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the pipeline company’s stock worth $124,000 after buying an additional 2,120 shares in the last quarter. Renaissance Technologies LLC grew its position in Valero Energy Partners by 14.1% during the first quarter. Renaissance Technologies LLC now owns 113,478 shares of the pipeline company’s stock worth $5,437,000 after buying an additional 14,036 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Valero Energy Partners by 18.2% during the first quarter. Bank of America Corp DE now owns 265,652 shares of the pipeline company’s stock worth $12,728,000 after buying an additional 40,863 shares in the last quarter. 30.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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