Cedar Brook Financial Partners LLC Has $281,000 Stake in PBF Logistics LP (PBFX)

Cedar Brook Financial Partners LLC decreased its holdings in shares of PBF Logistics LP (NYSE:PBFX) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,383 shares of the pipeline company’s stock after selling 6,028 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in PBF Logistics were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of PBF Logistics by 227.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 3,240 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of PBF Logistics during the fourth quarter worth $151,000. Tortoise Index Solutions LLC boosted its holdings in shares of PBF Logistics by 100.0% during the fourth quarter. Tortoise Index Solutions LLC now owns 7,835 shares of the pipeline company’s stock worth $157,000 after purchasing an additional 3,918 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of PBF Logistics during the first quarter worth $247,000. Finally, Citigroup Inc. boosted its holdings in shares of PBF Logistics by 207.0% during the fourth quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 8,218 shares during the last quarter. Institutional investors and hedge funds own 23.68% of the company’s stock.

Shares of PBF Logistics stock opened at $20.30 on Thursday. PBF Logistics LP has a twelve month low of $19.17 and a twelve month high of $23.69. The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.12, a PEG ratio of 2.94 and a beta of 0.81. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.96 and a current ratio of 0.96.

PBF Logistics (NYSE:PBFX) last issued its earnings results on Wednesday, May 1st. The pipeline company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). PBF Logistics had a net margin of 25.11% and a return on equity of 45.77%. The firm had revenue of $78.85 million during the quarter, compared to analyst estimates of $79.08 million. During the same quarter in the previous year, the business posted $0.43 EPS. PBF Logistics’s revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts predict that PBF Logistics LP will post 1.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 15th will be issued a $0.51 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.04 dividend on an annualized basis and a yield of 10.05%. This is a boost from PBF Logistics’s previous quarterly dividend of $0.51. PBF Logistics’s dividend payout ratio (DPR) is presently 112.09%.

In related news, Director David Roush sold 6,500 shares of PBF Logistics stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.67, for a total value of $140,855.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Several research firms have recently issued reports on PBFX. Wells Fargo & Co restated a “hold” rating on shares of PBF Logistics in a report on Monday, February 18th. Zacks Investment Research upgraded PBF Logistics from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 6th.

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About PBF Logistics

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 two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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Institutional Ownership by Quarter for PBF Logistics (NYSE:PBFX)

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