BidaskClub downgraded shares of Valero Energy Partners LP (NYSE:VLP) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research firms have also issued reports on VLP. Citigroup Inc. restated a neutral rating and set a $50.00 price target (up previously from $46.00) on shares of Valero Energy Partners in a report on Saturday, April 22nd. Zacks Investment Research lowered shares of Valero Energy Partners from a buy rating to a hold rating in a report on Saturday, July 8th. Barclays PLC restated an overweight rating and set a $55.00 price target on shares of Valero Energy Partners in a report on Tuesday, May 2nd. Scotiabank restated a buy rating and set a $51.00 price target on shares of Valero Energy Partners in a report on Thursday, April 27th. Finally, ValuEngine upgraded shares of Valero Energy Partners from a hold rating to a buy rating in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $53.78.

Valero Energy Partners (NYSE VLP) opened at 44.63 on Friday. The stock has a market capitalization of $3.04 billion, a PE ratio of 14.78 and a beta of 0.75. Valero Energy Partners has a 52 week low of $38.90 and a 52 week high of $51.00. The stock’s 50 day moving average is $45.23 and its 200-day moving average is $46.93.

Valero Energy Partners (NYSE:VLP) last released its earnings results on Friday, July 28th. The pipeline company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by $0.03. Valero Energy Partners had a net margin of 55.29% and a return on equity of 361.72%. The business had revenue of $110.50 million for the quarter, compared to analyst estimates of $107.14 million. During the same period in the prior year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts forecast that Valero Energy Partners will post $3.09 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Valero Energy Partners’s previous quarterly dividend of $0.43. Valero Energy Partners’s payout ratio is currently 61.69%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY raised its position in Valero Energy Partners by 61.1% in the first quarter. Spirit of America Management Corp NY now owns 356,490 shares of the pipeline company’s stock valued at $17,079,000 after buying an additional 135,150 shares in the last quarter. Renaissance Technologies LLC raised its position in Valero Energy Partners by 265.6% in the fourth quarter. Renaissance Technologies LLC now owns 99,442 shares of the pipeline company’s stock valued at $4,402,000 after buying an additional 72,242 shares in the last quarter. Guggenheim Capital LLC raised its position in Valero Energy Partners by 151.5% in the fourth quarter. Guggenheim Capital LLC now owns 21,509 shares of the pipeline company’s stock valued at $953,000 after buying an additional 12,958 shares in the last quarter. Macquarie Group Ltd. raised its position in Valero Energy Partners by 143.3% in the fourth quarter. Macquarie Group Ltd. now owns 38,200 shares of the pipeline company’s stock valued at $1,691,000 after buying an additional 22,500 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position in Valero Energy Partners by 157.0% in the first quarter. Driehaus Capital Management LLC now owns 84,286 shares of the pipeline company’s stock valued at $4,038,000 after buying an additional 51,486 shares in the last quarter. Hedge funds and other institutional investors own 31.91% of the company’s stock.

About Valero Energy Partners

Valero Energy Partners LP owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company’s assets include crude oil and refined petroleum products pipelines, terminals, and other logistics assets in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the ten of Valero Energy Corporation (Valero) refineries.

Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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