Evergreen Capital Management LLC Has $9.49 Million Position in USD Partners LP (USDP)
Evergreen Capital Management LLC boosted its holdings in USD Partners LP (NYSE:USDP) by 39.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 862,570 shares of the transportation company’s stock after acquiring an additional 242,350 shares during the quarter. USD Partners accounts for 1.1% of Evergreen Capital Management LLC’s portfolio, making the stock its 27th largest position. Evergreen Capital Management LLC owned about 3.33% of USD Partners worth $9,488,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of USDP. Renaissance Technologies LLC increased its position in USD Partners by 10.3% in the 1st quarter. Renaissance Technologies LLC now owns 65,691 shares of the transportation company’s stock valued at $808,000 after acquiring an additional 6,125 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of USD Partners during the 2nd quarter valued at $2,382,000. Goldman Sachs Group Inc. acquired a new position in shares of USD Partners in the 2nd quarter worth $20,960,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of USD Partners in the 2nd quarter worth $165,000. Hedge funds and other institutional investors own 30.40% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded USD Partners from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Thursday, August 3rd. BidaskClub raised USD Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Finally, TheStreet raised USD Partners from a “c” rating to a “b-” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. USD Partners has an average rating of “Hold” and an average price target of $15.50.
In other news, insider G Stacy Smith acquired 9,850 shares of USD Partners stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $10.54 per share, with a total value of $103,819.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Borgen acquired 5,000 shares of USD Partners stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $9.19 per share, with a total value of $45,950.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 19,850 shares of company stock valued at $198,919. 2.60% of the stock is currently owned by insiders.
Shares of USD Partners LP (USDP) traded up $0.10 during trading on Monday, hitting $10.15. The stock had a trading volume of 21,800 shares, compared to its average volume of 61,214. The firm has a market capitalization of $267.53, a PE ratio of 10.36 and a beta of 1.01. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.50. USD Partners LP has a 1-year low of $9.00 and a 1-year high of $17.50.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 13.60%. The ex-dividend date was Friday, November 3rd. This is a boost from USD Partners’s previous quarterly dividend of $0.34. USD Partners’s dividend payout ratio (DPR) is 140.82%.
USD Partners Profile
USD Partners LP acquires, develops and operates energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company’s segments include Terminalling services and Fleet services. The Terminalling services segment consists of various operations, including Hardisty terminal, Casper terminal and Ethanol terminals.
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