USD Partners LP (USDP) Rating Lowered to Hold at Zacks Investment Research
USD Partners LP (NYSE:USDP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “USD Partners LP acquires, develops and operates energy-related rail terminals and other and complementary midstream infrastructure assets and businesses. Its assets consist primarily of an origination crude-by-rail terminal in Hardisty, Alberta, Canada and two destination unit train-capable ethanol rail terminals in San Antonio, Texas, and West Colton, California. The Company also provides railcar services. USD Partners LP is headquartered in Houston, Texas. “
USDP has been the subject of several other research reports. BidaskClub raised shares of USD Partners from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. ValuEngine cut shares of USD Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. USD Partners has a consensus rating of “Hold” and an average price target of $15.33.
Shares of USD Partners (USDP) opened at 10.60 on Tuesday. The company has a market cap of $279.41 million, a P/E ratio of 9.41 and a beta of 1.01. The firm has a 50-day moving average of $10.66 and a 200 day moving average of $11.99. USD Partners has a 52 week low of $9.00 and a 52 week high of $17.50.
In related news, insider Dan Borgen acquired 5,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average price of $9.83 per share, with a total value of $49,150.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider G Stacy Smith acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $10.78 per share, with a total value of $32,340.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 36,350 shares of company stock valued at $377,464.
Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of USD Partners during the 2nd quarter worth approximately $165,000. EJF Capital LLC boosted its position in shares of USD Partners by 66.7% during the 1st quarter. EJF Capital LLC now owns 50,000 shares of the transportation company’s stock worth $615,000 after purchasing an additional 20,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of USD Partners by 10.3% during the 1st quarter. Renaissance Technologies LLC now owns 65,691 shares of the transportation company’s stock worth $808,000 after purchasing an additional 6,125 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of USD Partners during the 2nd quarter worth approximately $2,382,000. Finally, Bank of America Corp DE boosted its position in shares of USD Partners by 31.1% during the 1st quarter. Bank of America Corp DE now owns 554,948 shares of the transportation company’s stock worth $6,826,000 after purchasing an additional 131,521 shares during the period. 30.29% of the stock is owned by hedge funds and other institutional investors.
USD Partners Company 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.
Receive News & Ratings for USD Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for USD Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.