CIBC Asset Management Inc Has $336,000 Position in Andeavor Logistics LP (ANDX)
CIBC Asset Management Inc boosted its holdings in Andeavor Logistics LP (NYSE:ANDX) by 58.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,911 shares of the oil and gas company’s stock after purchasing an additional 2,915 shares during the period. CIBC Asset Management Inc’s holdings in Andeavor Logistics were worth $336,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Andeavor Logistics during the second quarter valued at approximately $75,252,000. Summit Trail Advisors LLC raised its stake in Andeavor Logistics by 3,300.1% during the first quarter. Summit Trail Advisors LLC now owns 1,602,880 shares of the oil and gas company’s stock valued at $1,603,000 after buying an additional 1,555,738 shares in the last quarter. Wells Fargo & Company MN raised its stake in Andeavor Logistics by 106.2% during the first quarter. Wells Fargo & Company MN now owns 1,850,355 shares of the oil and gas company’s stock valued at $82,914,000 after buying an additional 952,847 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Andeavor Logistics by 4.2% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 13,121,984 shares of the oil and gas company’s stock valued at $587,996,000 after buying an additional 524,864 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in Andeavor Logistics by 10.0% during the first quarter. Brookfield Asset Management Inc. now owns 5,158,872 shares of the oil and gas company’s stock valued at $231,169,000 after buying an additional 467,678 shares in the last quarter. 38.08% of the stock is owned by hedge funds and other institutional investors.
In other Andeavor Logistics news, Director Jeff A. Stevens bought 39,175 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average cost of $50.14 per share, for a total transaction of $1,964,234.50. Following the transaction, the director now directly owns 527,136 shares in the company, valued at $26,430,599.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff A. Stevens bought 18,256 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average price of $48.70 per share, for a total transaction of $889,067.20. Following the completion of the transaction, the director now owns 450,193 shares in the company, valued at $21,924,399.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 182,017 shares of company stock worth $8,984,283. 0.15% of the stock is owned by insiders.
Andeavor Logistics (NYSE:ANDX) last posted its earnings results on Monday, August 6th. The oil and gas company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.04). Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. The business had revenue of $557.00 million during the quarter, compared to analyst estimates of $527.61 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. research analysts expect that Andeavor Logistics LP will post 2.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Friday, August 3rd were given a $1.03 dividend. This is a boost from Andeavor Logistics’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 8.49%. The ex-dividend date was Thursday, August 2nd. Andeavor Logistics’s dividend payout ratio (DPR) is currently 164.14%.
A number of analysts have recently weighed in on ANDX shares. Morgan Stanley increased their price target on Andeavor Logistics from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 24th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Andeavor Logistics in a research report on Friday, June 1st. ValuEngine upgraded Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Bank of America cut Andeavor Logistics from a “neutral” rating to an “underperform” rating and set a $55.00 price target on the stock. in a research report on Wednesday, July 18th. Finally, SunTrust Banks set a $51.00 price target on Andeavor Logistics and gave the stock a “buy” rating in a research report on Sunday, August 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. Andeavor Logistics presently has an average rating of “Hold” and a consensus target price of $52.82.
Andeavor Logistics 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.
See Also: Fiduciary
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