Andeavor Logistics (ANDX) Price Target Cut to $47.00

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Andeavor Logistics (NYSE:ANDX) had its target price decreased by Royal Bank of Canada from $51.00 to $47.00 in a research report sent to investors on Tuesday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on Andeavor Logistics from $46.00 to $50.00 and gave the company a hold rating in a report on Friday, August 24th. Zacks Investment Research upgraded Andeavor Logistics from a sell rating to a hold rating in a report on Thursday, August 23rd. SunTrust Banks set a $51.00 price objective on Andeavor Logistics and gave the company a buy rating in a report on Sunday, August 19th. Wells Fargo & Co lifted their price objective on Andeavor Logistics from $45.00 to $47.00 and gave the company a hold rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded Andeavor Logistics from a sell rating to a hold rating in a report on Monday, September 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $52.06.

ANDX traded down $1.27 during midday trading on Tuesday, reaching $38.79. 416,725 shares of the company were exchanged, compared to its average volume of 562,649. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.57. Andeavor Logistics has a one year low of $38.50 and a one year high of $55.21. The stock has a market cap of $8.85 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 4.41 and a beta of 1.63.

Andeavor Logistics (NYSE:ANDX) last issued its earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.68. Andeavor Logistics had a return on equity of 19.42% and a net margin of 17.74%. The firm had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $571.56 million. During the same quarter last year, the business earned $0.90 earnings per share. The company’s revenue was up 44.1% compared to the same quarter last year. As a group, equities analysts forecast that Andeavor Logistics will post 2.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 10.62%. The ex-dividend date of this dividend is Friday, November 2nd. This is a positive change from Andeavor Logistics’s previous quarterly dividend of $0.97. Andeavor Logistics’s dividend payout ratio (DPR) is currently 164.14%.

In other news, Director Jeff A. Stevens bought 39,175 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were acquired at an average price of $50.14 per share, with a total value of $1,964,234.50. Following the transaction, the director now owns 527,136 shares in the company, valued at $26,430,599.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff A. Stevens bought 56,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $48.79 per share, for a total transaction of $2,766,393.00. Following the transaction, the director now owns 402,954 shares in the company, valued at approximately $19,660,125.66. The disclosure for this purchase can be found here. In the last three months, insiders purchased 133,643 shares of company stock worth $6,594,124. 0.15% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Global X Management Co LLC raised its position in Andeavor Logistics by 23.3% in the 2nd 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 buying an additional 197,144 shares during the last quarter. Franklin Square Holdings L.P. raised its position in Andeavor Logistics by 29.2% in the 2nd 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 buying an additional 6,600 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Andeavor Logistics in the 3rd quarter valued at approximately $1,527,000. Eagle Global Advisors LLC increased its position in shares of Andeavor Logistics by 18.4% during the 2nd quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock worth $120,877,000 after purchasing an additional 440,833 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of Andeavor Logistics during the 2nd quarter worth approximately $25,105,000. 37.97% of the stock is currently owned by institutional investors and hedge funds.

About Andeavor Logistics

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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Analyst Recommendations for Andeavor Logistics (NYSE:ANDX)

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