Zacks Investment Research lowered shares of USD Partners (NYSE:USDP) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “USD Partners LP acquires, develops and operates energy-related rail terminals and other and complementary midstream infrastructure assets and businesses. Its assets consist primarily of an origination crude-by-rail terminal in Hardisty, Alberta, Canada and two destination unit train-capable ethanol rail terminals in San Antonio, Texas, and West Colton, California. The Company also provides railcar services. USD Partners LP is headquartered in Houston, Texas. “
USDP has been the topic of several other reports. B. Riley set a $14.00 target price on USD Partners and gave the company a buy rating in a research report on Sunday, July 8th. Janney Montgomery Scott raised USD Partners from a neutral rating to a buy rating in a research report on Tuesday, July 10th. Finally, ValuEngine raised USD Partners from a strong sell rating to a sell rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $13.00.
Shares of USDP opened at $10.67 on Friday. USD Partners has a 12 month low of $9.15 and a 12 month high of $12.00. The company has a quick ratio of 2.18, a current ratio of 2.41 and a debt-to-equity ratio of 2.65. The firm has a market cap of $297.91 million, a PE ratio of 12.13 and a beta of 0.44.
USD Partners (NYSE:USDP) last issued its quarterly earnings data on Tuesday, August 7th. The transportation company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). USD Partners had a net margin of 18.84% and a return on equity of 30.36%. The business had revenue of $29.58 million for the quarter, compared to analysts’ expectations of $31.29 million. Analysts forecast that USD Partners will post 1.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Tuesday, November 6th will be given a $0.357 dividend. This represents a $1.43 annualized dividend and a dividend yield of 13.38%. This is an increase from USD Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 5th. USD Partners’s dividend payout ratio is presently 161.36%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC grew its position in USD Partners by 227.0% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 216,787 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 150,499 shares during the period. First Republic Investment Management Inc. acquired a new stake in USD Partners during the 2nd quarter worth about $181,000. Intrinsic Edge Capital Management LLC acquired a new stake in USD Partners during the 2nd quarter worth about $753,000. Cambridge Investment Research Advisors Inc. acquired a new stake in USD Partners during the 2nd quarter worth about $119,000. Finally, Arrow Investment Advisors LLC acquired a new stake in USD Partners during the 2nd quarter worth about $491,000. 26.03% of the stock is currently owned by hedge funds and other institutional investors.
USD Partners Company Profile
USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through Terminalling Services and Fleet Services segments. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.
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