PBF Logistics LP (NYSE:PBFX) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.50.
A number of brokerages have commented on PBFX. Zacks Investment Research lowered shares of PBF Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Wells Fargo & Co boosted their target price on shares of PBF Logistics from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 13th. Finally, Credit Suisse Group assumed coverage on shares of PBF Logistics in a research report on Thursday, October 11th. They issued a “neutral” rating and a $24.00 target price for the company.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new stake in shares of PBF Logistics during the 2nd quarter valued at about $203,000. California Public Employees Retirement System bought a new stake in shares of PBF Logistics during the 2nd quarter valued at about $257,000. Advisory Services Network LLC bought a new stake in shares of PBF Logistics during the 3rd quarter valued at about $345,000. First Republic Investment Management Inc. bought a new stake in shares of PBF Logistics during the 2nd quarter valued at about $391,000. Finally, Alps Advisors Inc. bought a new stake in shares of PBF Logistics during the 2nd quarter valued at about $467,000. 34.23% of the stock is owned by institutional investors.
PBF Logistics (NYSE:PBFX) last issued its quarterly earnings data on Wednesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). PBF Logistics had a return on equity of 47.64% and a net margin of 27.78%. The firm had revenue of $70.60 million during the quarter, compared to analyst estimates of $70.30 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that PBF Logistics will post 1.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 9.97%. This is an increase from PBF Logistics’s previous quarterly dividend of $0.50. PBF Logistics’s payout ratio is presently 92.17%.
About PBF Logistics
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.
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