Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in PBF Logistics LP (NYSE:PBFX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 148,937 shares of the pipeline company’s stock, valued at approximately $3,128,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.35% of PBF Logistics as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in PBFX. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of PBF Logistics in the second quarter valued at about $203,000. Alps Advisors Inc. acquired a new stake in shares of PBF Logistics in the second quarter valued at about $467,000. Raymond James & Associates acquired a new stake in shares of PBF Logistics in the fourth quarter valued at about $539,000. Bank of Montreal Can acquired a new stake in shares of PBF Logistics in the second quarter valued at about $945,000. Finally, Spirit of America Management Corp NY lifted its stake in shares of PBF Logistics by 7.8% in the second quarter. Spirit of America Management Corp NY now owns 78,425 shares of the pipeline company’s stock valued at $1,647,000 after purchasing an additional 5,700 shares during the period. Institutional investors own 33.92% of the company’s stock.
Shares of PBF Logistics opened at $22.25 on Monday, according to MarketBeat.com. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 4.00. PBF Logistics LP has a 52 week low of $17.75 and a 52 week high of $22.70. The stock has a market capitalization of $1.01 billion, a P/E ratio of 10.25 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Wednesday, August 15th will be issued a dividend of $0.495 per share. This is an increase from PBF Logistics’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 8.90%. The ex-dividend date is Tuesday, August 14th. PBF Logistics’s dividend payout ratio (DPR) is 90.32%.
Several analysts recently commented on PBFX shares. Zacks Investment Research upgraded shares of PBF Logistics from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 17th. TheStreet cut shares of PBF Logistics from a “b-” rating to a “c” rating in a research note on Monday, May 21st. Finally, ValuEngine upgraded shares of PBF Logistics from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Two research analysts have rated the stock with a sell rating, one has 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 target price of $23.50.
PBF Logistics Company Profile
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.
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