Valero Energy Partners LP (VLP) is Initiated by Jefferies to Buy, Price Target at $53

Valero Energy Partners LP (VLP) was Initiated by Jefferies to “Buy” and the brokerage firm has set the Price Target at $53. Jefferies advised their investors in a research report released on Aug 23, 2016.

Many Wall Street Analysts have commented on Valero Energy Partners LP. Valero Energy Partners LP was Upgraded by Credit Suisse to ” Outperform” on Aug 8, 2016.

On the company’s financial health, Valero Energy Partners LP reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.66. The company had revenue of $87.70 million for the quarter, compared to analysts expectations of $85.21 million. The company’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Valero Energy Partners LP closed down -0.28 points or -0.68% at $41.09 with 80,138 shares getting traded on Friday. Post opening the session at $41.39, the shares hit an intraday low of $40.8 and an intraday high of $41.62 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Valero Energy Partners LP

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