Today, Wells Fargo & Company MN Buys 22,129 Shares of Valero Energy Partners LP (VLP)

Today, Wells Fargo & Company MN Buys 22,129 Shares of Valero Energy Partners LP (VLP)

Wells Fargo & Company MN increased its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,360 shares of the company’s stock after buying an additional 22,129 shares during the period. Wells Fargo & Company MN’s holdings in Valero Energy Partners were worth $14,346,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Valero Energy Partners by 2.7% in the second quarter. Raymond James & Associates now owns 4,595 shares of the company’s stock worth $216,000 after buying an additional 119 shares during the period. Signaturefd LLC raised its position in shares of 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 during the period. US Bancorp DE raised its position in shares of Valero Energy Partners by 4.7% in the second quarter. US Bancorp DE now owns 3,544 shares of the company’s stock worth $167,000 after buying an additional 160 shares during the period. Capital One National Association raised its position in shares of 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 during the period. Finally, Conning Inc. raised its position in shares of Valero Energy Partners by 1.3% in the third quarter. Conning Inc. now owns 19,524 shares of the company’s stock worth $853,000 after buying an additional 255 shares during the period. Institutional investors own 30.60% of the company’s stock.

Valero Energy Partners LP (NYSE:VLP) traded down 1.06% on Monday, hitting $41.00. The stock had a trading volume of 55,427 shares. The company has a market cap of $2.76 billion, a PE ratio of 15.57 and a beta of 0.75. Valero Energy Partners LP has a one year low of $38.90 and a one year high of $53.25. The stock has a 50-day moving average of $41.21 and a 200-day moving average of $43.00.

Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share (EPS) 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 analyst estimates of $89.82 million. Valero Energy Partners had a return on equity of 92.55% and a net margin of 55.97%. The business’s revenue was up 48.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Equities analysts expect that Valero Energy Partners LP will post $2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, November 3rd were paid a dividend of $0.385 per share. This is an increase from Valero Energy Partners’s previous quarterly dividend of $0.37. This represents a $1.54 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Tuesday, November 1st. Valero Energy Partners’s dividend payout ratio is presently 56.83%.

A number of research firms recently weighed in on VLP. Credit Suisse Group AG upgraded shares of Valero Energy Partners from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $55.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Mizuho lowered their price objective on shares of Valero Energy Partners from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 31st. Morgan Stanley reiterated a “buy” rating and issued a $58.00 price objective on shares of Valero Energy Partners in a research report on Friday, August 5th. TheStreet lowered shares of Valero Energy Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 18th. Finally, Barclays PLC lowered their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $54.67.

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 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.

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