Zacks Investment Research upgraded shares of Arc Logistics Partners LP (NYSE:ARCX) from a sell rating to a hold rating in a research note published on Tuesday, July 25th.
According to Zacks, “Arc Logistics Partners LP is principally engaged in the terminalling, storage, throughput and transloading of crude oil and petroleum products. It owns, operates, develops and acquires a portfolio of complementary energy logistics assets. Arc Logistics Partners LP is based in New York. “
Separately, ValuEngine lowered Arc Logistics Partners from a buy rating to a hold rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $19.00.
Shares of Arc Logistics Partners (ARCX) traded up 1.35% during mid-day trading on Tuesday, reaching $14.23. 75,005 shares of the company’s stock traded hands. The company has a market capitalization of $277.74 million, a P/E ratio of 20.56 and a beta of 0.83. Arc Logistics Partners has a 1-year low of $12.86 and a 1-year high of $17.40. The firm has a 50-day moving average price of $15.14 and a 200-day moving average price of $14.87.
Arc Logistics Partners (NYSE:ARCX) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $26.59 million during the quarter, compared to analyst estimates of $26.71 million. Arc Logistics Partners had a return on equity of 4.34% and a net margin of 17.20%. On average, equities research analysts forecast that Arc Logistics Partners will post $0.70 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 12.37%. The ex-dividend date is Friday, August 4th. Arc Logistics Partners’s dividend payout ratio (DPR) is presently 247.89%.
Several institutional investors have recently modified their holdings of ARCX. Goldman Sachs Group Inc. raised its position in shares of Arc Logistics Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after buying an additional 221,662 shares during the period. Bank of America Corp DE raised its position in shares of Arc Logistics Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock valued at $5,804,000 after buying an additional 135,650 shares during the period. Renaissance Technologies LLC raised its position in shares of Arc Logistics Partners by 289.9% in the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after buying an additional 77,656 shares during the period. Orinda Asset Management LLC purchased a new position in shares of Arc Logistics Partners during the first quarter valued at about $516,000. Finally, KCG Holdings Inc. purchased a new position in shares of Arc Logistics Partners during the first quarter valued at about $464,000. 43.06% of the stock is currently owned by institutional investors and hedge funds.
Arc Logistics Partners Company Profile
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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