PBF Logistics LP (PBFX) To Go Ex-Dividend on November 10th
PBF Logistics LP (NYSE:PBFX) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Monday, November 13th will be paid a dividend of 0.48 per share by the pipeline company on Wednesday, November 29th. This represents a $1.92 annualized dividend and a yield of 9.37%. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47.
PBF Logistics has a dividend payout ratio of 85.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect PBF Logistics to earn $2.43 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 77.4%.
PBF Logistics (PBFX) opened at $20.50 on Friday. The company has a market cap of $858.85, a price-to-earnings ratio of 9.15, a PEG ratio of 2.32 and a beta of 1.26. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 3.54.
PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. PBF Logistics had a return on equity of 64.84% and a net margin of 38.76%. The business had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $64.60 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 35.2% on a year-over-year basis. sell-side analysts predict that PBF Logistics will post 2.2 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. BidaskClub cut PBF Logistics from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research raised PBF Logistics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Credit Suisse Group set a $24.00 target price on PBF Logistics and gave the company a “hold” rating in a research note on Saturday, August 5th. One 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’s stock. PBF Logistics presently has an average rating of “Hold” and a consensus price target of $24.00.
PBF Logistics Company Profile
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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