Mitsubishi UFJ Financial Group Comments on Andeavor Logistics LP’s FY2018 Earnings (ANDX)
Andeavor Logistics LP (NYSE:ANDX) – Analysts at Mitsubishi UFJ Financial Group increased their FY2018 earnings per share estimates for Andeavor Logistics in a note issued to investors on Tuesday, November 13th. Mitsubishi UFJ Financial Group analyst B. Blaschke now anticipates that the oil and gas company will post earnings of $2.66 per share for the year, up from their previous estimate of $2.63. Mitsubishi UFJ Financial Group currently has a “Neutral” rating and a $52.00 price target on the stock. Mitsubishi UFJ Financial Group also issued estimates for Andeavor Logistics’ Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.84 EPS and FY2019 earnings at $3.24 EPS.
Several other equities research analysts have also issued reports on ANDX. TheStreet lowered Andeavor Logistics from a “b” rating to a “c+” rating in a research report on Tuesday. Zacks Investment Research raised Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine raised Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. SunTrust Banks lowered Andeavor Logistics from a “buy” rating to a “hold” rating and dropped their price target for the company from $52.00 to $41.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Andeavor Logistics from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Andeavor Logistics currently has an average rating of “Hold” and a consensus target price of $51.00.
Andeavor Logistics (NYSE:ANDX) last posted its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $843.00 million for the quarter, compared to analyst estimates of $571.56 million. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The business’s revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were paid a dividend of $1.03 per share. This is an increase from Andeavor Logistics’s previous quarterly dividend of $0.97. This represents a $4.12 dividend on an annualized basis and a yield of 11.16%. The ex-dividend date of this dividend was Friday, November 2nd. Andeavor Logistics’s dividend payout ratio is presently 164.14%.
In other Andeavor Logistics news, Director Jeff A. Stevens purchased 19,512 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of $49.94 per share, with a total value of $974,429.28. Following the completion of the purchase, the director now owns 506,147 shares in the company, valued at approximately $25,276,981.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeff A. Stevens purchased 39,175 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was acquired at an average cost of $50.14 per share, with a total value of $1,964,234.50. Following the purchase, 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. 0.15% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ANDX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Andeavor Logistics in the second quarter worth $75,252,000. Tortoise Capital Advisors L.L.C. grew its stake in shares of Andeavor Logistics by 8.8% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,726,926 shares of the oil and gas company’s stock worth $715,140,000 after purchasing an additional 1,187,861 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Andeavor Logistics in the third quarter worth $43,476,000. Virtus ETF Advisers LLC bought a new position in shares of Andeavor Logistics in the third quarter worth $34,442,000. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Andeavor Logistics in the second quarter worth $25,105,000. 38.03% of the stock is 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.
Further Reading: Market Capitalization and Individual Investors
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