Hsbc Holdings PLC reduced its holdings in shares of Andeavor Logistics LP (NYSE:ANDX) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,026 shares of the oil and gas company’s stock after selling 12,500 shares during the quarter. Hsbc Holdings PLC’s holdings in Andeavor Logistics were worth $5,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Global X Management Co LLC lifted its holdings in shares of Andeavor Logistics by 23.3% during the second 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 purchasing an additional 197,144 shares in the last quarter. Franklin Square Holdings L.P. lifted its holdings in shares of Andeavor Logistics by 29.2% during the second 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 purchasing an additional 6,600 shares in the last quarter. Canton Hathaway LLC bought a new position in Andeavor Logistics in the third quarter valued at about $1,527,000. HITE Hedge Asset Management LLC bought a new position in Andeavor Logistics in the second quarter valued at about $25,105,000. Finally, Alps Advisors Inc. lifted its holdings in Andeavor Logistics by 6.1% in the second quarter. Alps Advisors Inc. now owns 7,431,647 shares of the oil and gas company’s stock valued at $316,068,000 after acquiring an additional 424,071 shares during the period. 33.22% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ANDX opened at $34.36 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01. Andeavor Logistics LP has a 52 week low of $33.78 and a 52 week high of $55.21. The stock has a market capitalization of $8.48 billion, a PE ratio of 13.69, a P/E/G ratio of 1.41 and a beta of 1.65.
Andeavor Logistics (NYSE:ANDX) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The firm had revenue of $843.00 million for the quarter, compared to the consensus estimate of $571.56 million. During the same quarter last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. On average, equities analysts predict that Andeavor Logistics LP will post 2.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $4.12 annualized dividend and a dividend yield of 11.99%. This is an increase from Andeavor Logistics’s previous quarterly dividend of $0.97. Andeavor Logistics’s dividend payout ratio (DPR) is 164.14%.
In other news, Director Jeff A. Stevens sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $38.44, for a total value of $961,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by company insiders.
A number of research analysts have weighed in on ANDX shares. Credit Suisse Group started coverage on Andeavor Logistics in a report on Thursday, October 11th. They issued an “underperform” rating and a $46.00 target price on the stock. SunTrust Banks downgraded Andeavor Logistics from a “buy” rating to a “hold” rating and lowered their target price for the company from $52.00 to $41.00 in a report on Tuesday, November 13th. Morgan Stanley increased their target price on Andeavor Logistics from $46.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 24th. TheStreet downgraded Andeavor Logistics from a “b” rating to a “c+” rating in a report on Tuesday, November 13th. Finally, JPMorgan Chase & Co. lowered their target price on Andeavor Logistics from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Andeavor Logistics currently has a consensus rating of “Hold” and a consensus price target of $50.00.
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Andeavor Logistics Company Profile
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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