Barclays PLC Lowers Andeavor Logistics LP (ANDX) Price Target to $55.00
Andeavor Logistics LP (NASDAQ:ANDX) had its price objective reduced by Barclays PLC from $57.00 to $55.00 in a report issued on Friday morning. Barclays PLC currently has an overweight rating on the stock.
Other research analysts have also issued research reports about the stock. Scotiabank restated a buy rating and issued a $59.00 price target on shares of Andeavor Logistics in a research report on Thursday, August 17th. Mitsubishi UFJ Financial Group upgraded shares of Andeavor Logistics to a buy rating and set a $60.00 price target on the stock in a research report on Wednesday, August 16th. Bank of America Corporation decreased their price target on shares of Andeavor Logistics from $58.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Andeavor Logistics from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Andeavor Logistics from a strong sell rating to a hold rating in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $58.57.
Shares of Andeavor Logistics (NASDAQ ANDX) traded down $0.54 during midday trading on Friday, reaching $44.61. 73,170 shares of the company’s stock were exchanged, compared to its average volume of 452,170. Andeavor Logistics has a 1 year low of $43.21 and a 1 year high of $60.14.
Andeavor Logistics (NASDAQ:ANDX) last announced its earnings results on Wednesday, November 8th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.22. Andeavor Logistics had a return on equity of 15.11% and a net margin of 26.63%. The firm had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 44.2% compared to the same quarter last year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.9852 per share. This represents a $3.94 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Thursday, November 2nd.
In related news, insider Steven Sterin purchased 1,000 shares of the stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $47.86 per share, for a total transaction of $47,860.00. Following the acquisition, the insider now directly owns 7,338 shares in the company, valued at approximately $351,196.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently bought and sold shares of ANDX. Center Coast Capital Advisors LP purchased a new position in shares of Andeavor Logistics during the 3rd quarter valued at $304,622,000. Alps Advisors Inc. acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at $301,485,000. Harvest Fund Advisors LLC acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at $288,697,000. JPMorgan Chase & Co. acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at $126,099,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at $124,576,000.
Andeavor Logistics Company Profile
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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