Arc Logistic Partners LP (NYSE:ARCX) posted its earnings results on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.03, Morningstar.com reports. The company had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $26.71 million. Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%.
Arc Logistic Partners (ARCX) opened at 14.59 on Friday. The stock has a market capitalization of $285.16 million, a PE ratio of 24.00 and a beta of 0.83. Arc Logistic Partners has a 52 week low of $12.86 and a 52 week high of $17.40. The firm has a 50 day moving average of $15.06 and a 200-day moving average of $14.79.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were paid a $0.44 dividend. The ex-dividend date was Friday, August 4th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.06%. Arc Logistic Partners’s payout ratio is currently 247.89%.
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Large investors have recently added to or reduced their stakes in the company. Mariner Wealth Advisors LLC raised its stake in Arc Logistic Partners by 3.0% in the second quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock worth $224,000 after buying an additional 434 shares during the last quarter. D.A. Davidson & CO. raised its stake in Arc Logistic Partners by 29.7% in the second quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock worth $145,000 after buying an additional 2,200 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock worth $12,949,000 after buying an additional 221,662 shares during the last quarter. Bank of America Corp DE raised its stake in Arc Logistic Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock worth $5,804,000 after buying an additional 135,650 shares during the last quarter. Finally, KCG Holdings Inc. acquired a new stake in Arc Logistic Partners during the first quarter worth about $464,000. 43.00% of the stock is owned by institutional investors and hedge funds.
ARCX has been the subject of several research analyst reports. Zacks Investment Research raised shares of Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus raised shares of Arc Logistic Partners from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $18.00 in a research note on Wednesday, August 9th. Finally, BidaskClub cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $19.00.
Arc Logistic 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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