Andeavor Logistics LP Expected to Earn FY2018 Earnings of $2.67 Per Share (ANDX)
Andeavor Logistics LP (NYSE:ANDX) – Investment analysts at SunTrust Banks dropped their FY2018 earnings estimates for shares of Andeavor Logistics in a report released on Monday, November 12th. SunTrust Banks analyst T. Richardson now expects that the oil and gas company will post earnings of $2.67 per share for the year, down from their previous forecast of $2.94. SunTrust Banks has a “Hold” rating and a $41.00 price objective on the stock. SunTrust Banks also issued estimates for Andeavor Logistics’ Q2 2019 earnings at $0.75 EPS, Q3 2019 earnings at $0.79 EPS and Q4 2019 earnings at $0.82 EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Andeavor Logistics from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. Wells Fargo & Co raised their price objective on Andeavor Logistics from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Thursday, August 9th. Mitsubishi UFJ Financial Group raised their price objective on Andeavor Logistics to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. Raymond James cut Andeavor Logistics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 23rd. Finally, ValuEngine cut Andeavor Logistics from a “hold” rating to a “sell” rating in a research note on Saturday, September 1st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $51.47.
Andeavor Logistics (NYSE:ANDX) last announced its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The firm had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $571.56 million. During the same period last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 44.1% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 11.18%. This is a positive change from Andeavor Logistics’s previous quarterly dividend of $0.97. The ex-dividend date is Friday, November 2nd. Andeavor Logistics’s dividend payout ratio (DPR) is 164.14%.
In other Andeavor Logistics news, Director Jeff A. Stevens acquired 18,256 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $48.70 per share, with a total value of $889,067.20. Following the completion of the acquisition, the director now owns 450,193 shares in the company, valued at $21,924,399.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff A. Stevens acquired 39,175 shares of the company’s stock in a transaction on Monday, August 27th. The stock was acquired at an average cost of $50.14 per share, for a total transaction of $1,964,234.50. Following the completion of the acquisition, the director now owns 527,136 shares of the company’s stock, valued at approximately $26,430,599.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 76,943 shares of company stock worth $3,827,731. 0.15% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in Andeavor Logistics in the third quarter valued at approximately $106,000. Ferris Capital LLC grew its holdings in Andeavor Logistics by 219.9% in the second quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 3,116 shares during the period. Vishria Bird Financial Group LLC acquired a new stake in Andeavor Logistics in the second quarter valued at approximately $241,000. Cowen Prime Services LLC grew its holdings in Andeavor Logistics by 100.0% in the third quarter. Cowen Prime Services LLC now owns 5,000 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 2,500 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in Andeavor Logistics in the second quarter valued at approximately $312,000. 38.03% of the stock is currently owned by institutional investors.
Andeavor Logistics Company Profile
Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.
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