Cushing Asset Management LP Sells 13,483 Shares of Valero Energy Partners LP (VLP)

Cushing Asset Management LP lowered its stake in shares of Valero Energy Partners LP (NYSE:VLP) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,040,935 shares of the pipeline company’s stock after selling 13,483 shares during the quarter. Valero Energy Partners accounts for 1.4% of Cushing Asset Management LP’s portfolio, making the stock its 23rd biggest position. Cushing Asset Management LP’s holdings in Valero Energy Partners were worth $46,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new stake in Valero Energy Partners during the fourth quarter worth $125,000. Raymond James & Associates bought a new stake in Valero Energy Partners during the fourth quarter worth $203,000. IFG Advisory LLC bought a new stake in Valero Energy Partners during the fourth quarter worth $253,000. Ferris Capital LLC bought a new stake in Valero Energy Partners during the fourth quarter worth $299,000. Finally, California Public Employees Retirement System grew its holdings in Valero Energy Partners by 56.0% during the second quarter. California Public Employees Retirement System now owns 11,700 shares of the pipeline company’s stock worth $534,000 after buying an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 29.25% of the company’s stock.

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Valero Energy Partners LP (NYSE VLP) opened at $38.34 on Wednesday. The company has a debt-to-equity ratio of 6.20, a quick ratio of 2.70 and a current ratio of 2.70. The firm has a market capitalization of $2,722.40, a price-to-earnings ratio of 13.91, a PEG ratio of 1.19 and a beta of 0.78. Valero Energy Partners LP has a 12 month low of $38.02 and a 12 month high of $48.90.

Valero Energy Partners (NYSE:VLP) last posted its quarterly earnings results on Friday, February 2nd. The pipeline company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $123.24 million. Valero Energy Partners had a return on equity of 144.86% and a net margin of 52.75%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. research analysts forecast that Valero Energy Partners LP will post 2.94 earnings per share for the current fiscal year.

The company also recently declared a dividend, which was paid on Tuesday, February 13th. Stockholders of record on Monday, February 5th were paid a dividend of $0.5075 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a dividend yield of 0.0109210243167635%. Valero Energy Partners’s payout ratio is 73.29%.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Valero Energy Partners from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday. TheStreet downgraded Valero Energy Partners from a “b” rating to a “c+” rating in a research note on Friday, February 23rd. Credit Suisse Group assumed coverage on Valero Energy Partners in a research note on Thursday, January 4th. They issued a “neutral” rating and a $47.00 price objective for the company. Barclays downgraded Valero Energy Partners from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $50.00 to $49.00 in a research note on Wednesday, January 17th. Finally, SunTrust Banks set a $50.00 price objective on Valero Energy Partners and gave the company a “buy” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Valero Energy Partners has an average rating of “Hold” and an average price target of $50.50.

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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.

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Institutional Ownership by Quarter for Valero Energy Partners (NYSE:VLP)

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