Van ECK Associates Corp Purchases Shares of 22,766 Tesoro Logistics LP (ANDX)
Van ECK Associates Corp purchased a new stake in Tesoro Logistics LP (NYSE:ANDX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,766 shares of the oil and gas company’s stock, valued at approximately $1,140,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. bought a new stake in shares of Tesoro Logistics in the 3rd quarter valued at approximately $150,000. Duff & Phelps Investment Management Co. bought a new stake in shares of Tesoro Logistics in the 3rd quarter valued at approximately $24,046,000. BB&T Corp bought a new stake in shares of Tesoro Logistics in the 3rd quarter valued at approximately $501,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Tesoro Logistics in the 3rd quarter valued at approximately $3,081,000. Finally, Dividend Assets Capital LLC bought a new stake in shares of Tesoro Logistics in the 3rd quarter valued at approximately $32,804,000. 34.85% of the stock is owned by institutional investors and hedge funds.
Shares of Tesoro Logistics LP (NYSE:ANDX) opened at $46.44 on Friday. Tesoro Logistics LP has a 1-year low of $42.18 and a 1-year high of $60.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $9,673.35, a P/E ratio of 18.12, a P/E/G ratio of 3.21 and a beta of 1.12.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were issued a $0.9852 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $3.94 annualized dividend and a yield of 8.49%. Tesoro Logistics’s dividend payout ratio (DPR) is currently 167.66%.
Several brokerages recently commented on ANDX. Barclays reissued an “overweight” rating and issued a $62.00 price target (down previously from $65.00) on shares of Tesoro Logistics in a research note on Thursday, August 10th. BidaskClub raised Tesoro Logistics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group boosted their price target on Tesoro Logistics from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Zacks Investment Research raised Tesoro Logistics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Scotiabank restated a “buy” rating and issued a $59.00 target price on shares of Tesoro Logistics in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $55.38.
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About Tesoro Logistics
Andeavor Logistics LP, formerly Tesoro Logistics LP, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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