Mizuho Securities Initiates Coverage on Valero Energy Partners LP to Buy

Mizuho Securities Initiates Coverage on Valero Energy Partners LP(NYSE:VLP). The shares have been rated Buy. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, Jefferies said it Initiates Coverage on Valero Energy Partners LP, according to a research note issued on Aug 22, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 8, 2016, Credit Suisse said it Upgrades its rating on Valero Energy Partners LP. In the research note, the firm Lowers the price-target to $60.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 8, 2016, Barclays said it Maintains its rating on Valero Energy Partners LP. In the research note, the firm Lowers the price-target to $59.00 per share. The shares have been rated ‘Overweight’ by the firm.

Valero Energy Partners LP (VLP) shares turned negative on Tuesdays trading session with the shares closing down -0.19 points or -0.44% at a volume of 1,06,795. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.33. The peak price level was also seen at $43.33 while the days lowest was $42.38. Finally the shares closed at $42.7. The 52-week high of the shares is $53.25 while the 52-week low is $39.02. According to the latest information available, the market cap of the company is $2,878 M.

Valero Energy Partners LP(VLP) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $87.66M. Analysts had an estimated revenue of $84.68M. Earnings per share were $0.67. Analysts had estimated an EPS of $0.66.

Valero Energy Partners LP is a master limited partnership (MLP). The Company 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 pipeline and terminal systems in the United States Gulf Coast and United States Mid-Continent regions; Valero’s McKee Refinery located in Sunray Texas; Valero’s Three Rivers Refinery located in Three Rivers Texas; Valero’s Memphis Refinery located in Memphis Tennessee and Valero’s Ardmore Refinery located in Ardmore Oklahoma. Port Arthur logistics system includes its Lucas crude system and its Port Arthur products system. McKee logistics system is a crude oil and refined petroleum products pipeline and terminal system supporting Valero’s McKee Refinery in Sunray Texas. Memphis logistics system includes its Collierville crude system and its Memphis products system.

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