USD Partners LP (NYSE:USDP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, May 11th.
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. “
Several other analysts also recently weighed in on USDP. Bank of America Corp downgraded shares of USD Partners from a “buy” rating to an “underperform” rating in a research report on Friday, February 3rd. FBR & Co set a $17.00 price objective on shares of USD Partners and gave the stock a “buy” rating in a research report on Saturday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.38.
USD Partners (NYSE USDP) opened at 12.75 on Thursday. The company has a market cap of $297.95 million, a P/E ratio of 11.17 and a beta of 1.19. USD Partners has a 52 week low of $8.88 and a 52 week high of $17.50. The firm’s 50 day moving average is $13.84 and its 200-day moving average is $14.14.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 8th were paid a $0.335 dividend. This is a boost from USD Partners’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 10.51%. The ex-dividend date of this dividend was Thursday, May 4th. USD Partners’s payout ratio is currently 118.92%.
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A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of USD Partners by 17.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,800 shares of the transportation company’s stock valued at $107,000 after buying an additional 1,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in USD Partners by 10.3% in the first quarter. Renaissance Technologies LLC now owns 65,691 shares of the transportation company’s stock worth $808,000 after buying an additional 6,125 shares during the period. EJF Capital LLC boosted its position in USD Partners by 66.7% in the first quarter. EJF Capital LLC now owns 50,000 shares of the transportation company’s stock worth $615,000 after buying an additional 20,000 shares during the period. Acadian Asset Management LLC bought a new position in USD Partners during the first quarter worth $281,000. Finally, Creative Planning boosted its position in USD Partners by 97.4% in the first quarter. Creative Planning now owns 48,300 shares of the transportation company’s stock worth $594,000 after buying an additional 23,832 shares during the period. 39.14% of the stock is currently owned by institutional investors.
About USD Partners
USD Partners LP acquires, develops and operates energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company’s segments include Terminalling services and Fleet services. The Terminalling services segment consists of various operations, including Hardisty terminal, Casper terminal and Ethanol terminals.
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