Andeavor Logistics (ANDX) Hits New 12-Month Low at $33.78

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Shares of Andeavor Logistics LP (NYSE:ANDX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $33.78 and last traded at $34.11, with a volume of 18294 shares changing hands. The stock had previously closed at $35.41.

ANDX has been the topic of a number of recent research reports. ValuEngine raised Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Morgan Stanley lifted their target price on Andeavor Logistics from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 24th. Credit Suisse Group began coverage on Andeavor Logistics in a report on Thursday, October 11th. They set an “underperform” rating and a $46.00 price target for the company. Zacks Investment Research upgraded Andeavor Logistics from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Finally, TheStreet cut Andeavor Logistics from a “b” rating to a “c+” rating in a report on Tuesday, November 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.00.

The firm 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. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01.

Andeavor Logistics (NYSE:ANDX) last issued its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. The business had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $571.56 million. Andeavor Logistics had a return on equity of 17.51% and a net margin of 17.74%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Andeavor Logistics LP will post 2.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were paid a $1.03 dividend. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. This represents a $4.12 annualized dividend and a dividend yield of 11.99%. The ex-dividend date of this dividend was Friday, November 2nd. Andeavor Logistics’s payout ratio is 164.14%.

In related news, Director Jeff A. Stevens sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $38.44, for a total value of $961,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Several hedge funds have recently modified their holdings of ANDX. Tower Research Capital LLC TRC bought a new stake in shares of Andeavor Logistics in the third quarter valued at approximately $106,000. Ferris Capital LLC raised its position in Andeavor Logistics by 219.9% during the second quarter. Ferris Capital LLC now owns 4,533 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 3,116 shares in the last quarter. LPL Financial LLC acquired a new position in Andeavor Logistics during the third quarter valued at approximately $224,000. Cowen Prime Services LLC raised its position in Andeavor Logistics by 100.0% during the third quarter. Cowen Prime Services LLC now owns 5,000 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new position in Andeavor Logistics during the second quarter valued at approximately $312,000. Institutional investors and hedge funds own 33.22% of the company’s stock.

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About Andeavor Logistics (NYSE:ANDX)

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.

See Also: Balanced Fund

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