PBF Logistics LP (PBFX) Receives Average Recommendation of “Hold” from Analysts
PBF Logistics LP (NYSE:PBFX) has been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.00.
A number of analysts recently issued reports on PBFX shares. Zacks Investment Research downgraded shares of PBF Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of PBF Logistics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, UBS reduced their target price on shares of PBF Logistics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th.
Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Fund Advisors LLC boosted its position in shares of PBF Logistics by 1.8% in the third quarter. Harvest Fund Advisors LLC now owns 1,307,569 shares of the pipeline company’s stock valued at $27,459,000 after acquiring an additional 23,406 shares during the period. First Trust Advisors LP bought a new position in shares of PBF Logistics in the second quarter valued at approximately $7,985,000. NBW Capital LLC boosted its position in shares of PBF Logistics by 2.8% in the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock valued at $7,864,000 after acquiring an additional 11,006 shares during the period. Global X MANAGEMENT CO LLC boosted its position in shares of PBF Logistics by 3.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock valued at $8,288,000 after acquiring an additional 13,150 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of PBF Logistics by 3.1% in the second quarter. Global X Management Co. LLC now owns 381,537 shares of the pipeline company’s stock valued at $7,440,000 after acquiring an additional 11,546 shares during the period. Hedge funds and other institutional investors own 37.36% of the company’s stock.
Shares of PBF Logistics (NYSE:PBFX) opened at $19.65 on Wednesday. PBF Logistics has a 1-year low of $17.60 and a 1-year high of $22.70. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.40. The stock has a market cap of $823.23, a PE ratio of 8.77, a P/E/G ratio of 2.15 and a beta of 1.26.
PBF Logistics (NYSE:PBFX) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The business had revenue of $65.50 million during the quarter, compared to the consensus estimate of $64.60 million. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. analysts forecast that PBF Logistics will post 2.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th were paid a $0.48 dividend. This is an increase from PBF Logistics’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, November 10th. This represents a $1.92 annualized dividend and a dividend yield of 9.77%. PBF Logistics’s dividend payout ratio (DPR) is presently 85.71%.
About PBF Logistics
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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