Zacks Investment Research lowered shares of Valero Energy Partners LP (NYSE:VLP) from a hold rating to a sell rating in a research note released on Friday morning.

According to Zacks, “Valero Energy Partners LP is engaged in the ownership, development and acquisition of crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. The Company’s assets primarily situated in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero Energy Corporation’s refinery based in Port Arthur, Texas, McKee refinery based in Sunray, Texas and its refinery based in Memphis, Tennessee. Valero Energy Partners LP is based in San Antonio, United States. “

Several other research firms have also recently issued reports on VLP. Scotiabank reissued a buy rating and set a $51.00 target price on shares of Valero Energy Partners in a research note on Thursday, April 27th. Royal Bank Of Canada restated a buy rating and set a $62.00 price target on shares of Valero Energy Partners in a research report on Friday, April 21st. Citigroup Inc. restated a neutral rating and set a $50.00 price target (up from $46.00) on shares of Valero Energy Partners in a research report on Saturday, April 22nd. Barclays PLC restated an overweight rating and set a $55.00 price target on shares of Valero Energy Partners in a research report on Tuesday, May 2nd. Finally, ValuEngine upgraded Valero Energy Partners from a hold rating to a buy rating in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $53.78.

Valero Energy Partners (VLP) opened at 44.63 on Friday. The company has a market capitalization of $3.04 billion, a PE ratio of 14.78 and a beta of 0.75. The firm’s 50 day moving average price is $45.23 and its 200-day moving average price is $46.93. Valero Energy Partners has a 12-month low of $38.90 and a 12-month high of $51.00.

Valero Energy Partners (NYSE:VLP) last posted its earnings results on Friday, July 28th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $107.14 million. During the same period last year, the firm posted $0.67 earnings per share. Valero Energy Partners’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities analysts anticipate that Valero Energy Partners will post $3.09 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in VLP. US Bancorp DE increased its stake in Valero Energy Partners by 39.7% in the first quarter. US Bancorp DE now owns 4,727 shares of the pipeline company’s stock valued at $226,000 after buying an additional 1,343 shares during the period. First Trust Advisors LP increased its stake in Valero Energy Partners by 63.6% in the first quarter. First Trust Advisors LP now owns 111,503 shares of the pipeline company’s stock valued at $5,342,000 after buying an additional 43,344 shares during the period. ING Groep NV bought a new stake in Valero Energy Partners during the first quarter valued at approximately $3,641,000. Conning Inc. increased its stake in Valero Energy Partners by 44.9% in the first quarter. Conning Inc. now owns 19,348 shares of the pipeline company’s stock valued at $927,000 after buying an additional 5,991 shares during the period. Finally, Chickasaw Capital Management LLC increased its stake in Valero Energy Partners by 2.6% in the first quarter. Chickasaw Capital Management LLC now owns 1,529,191 shares of the pipeline company’s stock valued at $73,264,000 after buying an additional 38,215 shares during the period. 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.

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Analyst Recommendations for Valero Energy Partners (NYSE:VLP)

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