Andeavor Logistics LP (NYSE:ANDX) – Investment analysts at SunTrust Banks cut their Q4 2018 earnings per share (EPS) estimates for shares of Andeavor Logistics in a report issued on Monday, November 12th. SunTrust Banks analyst T. Richardson now expects that the oil and gas company will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.90. SunTrust Banks currently has a “Hold” rating and a $41.00 target price on the stock. SunTrust Banks also issued estimates for Andeavor Logistics’ Q1 2019 earnings at $0.71 EPS, FY2019 earnings at $3.07 EPS and FY2020 earnings at $3.45 EPS.
Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of Andeavor Logistics from a “b” rating to a “c+” rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Andeavor Logistics from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 24th. Zacks Investment Research raised shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. ValuEngine raised shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Wells Fargo & Co boosted their price target on shares of Andeavor Logistics from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.00.
Andeavor Logistics (NYSE:ANDX) last posted its earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The firm had revenue of $843.00 million during the quarter, compared to analyst estimates of $571.56 million. Andeavor Logistics had a net margin of 17.74% and a return on equity of 17.51%. The business’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 11.16%. The ex-dividend date of this dividend was Friday, November 2nd. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. Andeavor Logistics’s payout ratio is 164.14%.
In other news, Director Jeff A. Stevens purchased 19,512 shares of the stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average price of $49.94 per share, with a total value of $974,429.28. Following the transaction, the director now owns 506,147 shares in the company, valued at approximately $25,276,981.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeff A. Stevens purchased 39,175 shares of the stock in a transaction dated Monday, August 27th. The shares were purchased at an average cost of $50.14 per share, for a total transaction of $1,964,234.50. Following the transaction, the director now owns 527,136 shares in the company, valued at approximately $26,430,599.04. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Global X Management Co LLC boosted its position in shares of Andeavor Logistics by 23.3% during the 2nd quarter. Global X Management Co LLC now owns 1,042,952 shares of the oil and gas company’s stock valued at $44,357,000 after acquiring an additional 197,144 shares during the last quarter. Franklin Square Holdings L.P. boosted its position in shares of Andeavor Logistics by 29.2% during the 2nd quarter. Franklin Square Holdings L.P. now owns 29,190 shares of the oil and gas company’s stock valued at $1,241,000 after acquiring an additional 6,600 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Andeavor Logistics during the 3rd quarter valued at about $1,527,000. Eagle Global Advisors LLC boosted its position in shares of Andeavor Logistics by 18.4% during the 2nd quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock valued at $120,877,000 after acquiring an additional 440,833 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of Andeavor Logistics during the 2nd quarter valued at about $25,105,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.
About Andeavor Logistics
Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.
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