Ameriprise Financial Inc. increased its position in Valero Energy Partners LP (NYSE:VLP) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,240 shares of the company’s stock after buying an additional 420 shares during the period. Ameriprise Financial Inc. owned approximately 0.05% of Valero Energy Partners worth $1,610,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Valero Energy Partners during the second quarter worth approximately $105,000. Barnett & Company Inc. bought a new stake in Valero Energy Partners during the first quarter worth approximately $149,000. Signaturefd LLC boosted its stake in Valero Energy Partners by 4.5% in the second quarter. Signaturefd LLC now owns 3,475 shares of the company’s stock worth $163,000 after buying an additional 150 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Valero Energy Partners during the second quarter worth approximately $210,000. Finally, Capital One National Association boosted its stake in Valero Energy Partners by 4.0% in the second quarter. Capital One National Association now owns 4,574 shares of the company’s stock worth $215,000 after buying an additional 174 shares in the last quarter. 30.84% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy Partners LP (NYSE:VLP) traded down 2.27% on Friday, hitting $40.85. The stock had a trading volume of 236,950 shares. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 16.58 and a beta of 0.70. Valero Energy Partners LP has a 52-week low of $39.02 and a 52-week high of $53.25. The company has a 50 day moving average price of $42.55 and a 200-day moving average price of $43.91.
Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.11. The business had revenue of $92 million for the quarter, compared to the consensus estimate of $89.82 million. Valero Energy Partners had a return on equity of 70.37% and a net margin of 55.97%. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts predict that Valero Energy Partners LP will post $2.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, November 3rd will be paid a $0.385 dividend. This is an increase from Valero Energy Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.77%. Valero Energy Partners’s dividend payout ratio is presently 53.87%.
A number of research firms have recently commented on VLP. Jefferies Group set a $53.00 target price on Valero Energy Partners and gave the stock a “buy” rating in a research note on Saturday, October 15th. TheStreet cut Valero Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Barclays PLC dropped their price objective on Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 8th. Credit Suisse Group AG set a $55.00 price objective on Valero Energy Partners and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Finally, Mitsubishi UFJ Financial Group raised Valero Energy Partners from a “neutral” rating to an “overweight” rating in a research report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.45.
Valero Energy Partners Company Profile
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 pipeline and terminal systems in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the following Valero Energy Corporation (Valero) refineries, such as Port Arthur Refinery-Port Arthur, Texas; McKee Refinery-Sunray, Texas; Three Rivers Refinery-Three Rivers, Texas; Memphis Refinery-Memphis, Tennessee; Ardmore Refinery-Ardmore, Oklahoma; St.