Valero Energy Partners LP (VLP) Rating Lowered to Strong Sell at Zacks Investment Research

Valero Energy Partners LP (NYSE:VLP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other equities analysts have also recently commented on the stock. ValuEngine cut shares of Valero Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Scotiabank set a $51.00 target price on shares of Valero Energy Partners and gave the company a “buy” rating in a report on Saturday, July 22nd. BidaskClub raised shares of Valero Energy Partners from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC raised shares of Valero Energy Partners from a “hold” rating to a “buy” rating and cut their target price for the company from $51.00 to $50.00 in a report on Wednesday, August 23rd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Valero Energy Partners in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.25.

Valero Energy Partners (NYSE:VLP) last announced its earnings results on Friday, July 28th. The pipeline company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $110.50 million during the quarter, compared to analyst estimates of $107.14 million. Valero Energy Partners had a net margin of 55.29% and a return on equity of 266.53%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in Valero Energy Partners by 1.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 41,638 shares of the pipeline company’s stock valued at $1,900,000 after buying an additional 400 shares during the period. NBW Capital LLC increased its stake in Valero Energy Partners by 4.1% in the 2nd quarter. NBW Capital LLC now owns 166,102 shares of the pipeline company’s stock valued at $7,581,000 after buying an additional 6,591 shares during the period. CNH Partners LLC increased its stake in Valero Energy Partners by 1.0% in the 2nd quarter. CNH Partners LLC now owns 10,321 shares of the pipeline company’s stock valued at $471,000 after buying an additional 100 shares during the period. EnTrustPermal Management LLC increased its stake in Valero Energy Partners by 55.0% in the 2nd quarter. EnTrustPermal Management LLC now owns 33,526 shares of the pipeline company’s stock valued at $1,531,000 after buying an additional 11,900 shares during the period. Finally, Citadel Advisors LLC increased its stake in Valero Energy Partners by 222.0% in the 2nd quarter. Citadel Advisors LLC now owns 14,813 shares of the pipeline company’s stock valued at $676,000 after buying an additional 10,213 shares during the period. 29.93% of the stock is currently owned by institutional investors.

Valero Energy Partners Company Profile

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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