Renaissance Technologies LLC purchased a new position in shares of USD Partners LP (NYSE:USDP) during the 2nd quarter, HoldingsChannel reports. The fund purchased 27,200 shares of the transportation company’s stock, valued at approximately $292,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of USDP. Segment Wealth Management LLC bought a new position in shares of USD Partners in the second quarter valued at about $118,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of USD Partners in the second quarter valued at about $119,000. Arrow Investment Advisors LLC bought a new position in shares of USD Partners in the second quarter valued at about $491,000. Finally, HITE Hedge Asset Management LLC raised its position in shares of USD Partners by 227.0% in the second quarter. HITE Hedge Asset Management LLC now owns 216,787 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 150,499 shares during the period. 26.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on USDP shares. Zacks Investment Research raised shares of USD Partners from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday. ValuEngine raised shares of USD Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Finally, B. Riley set a $14.00 price target on shares of USD Partners and gave the stock a “buy” rating in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. USD Partners has a consensus rating of “Hold” and a consensus price target of $13.00.
NYSE:USDP opened at $10.46 on Friday. USD Partners LP has a 52 week low of $9.15 and a 52 week high of $12.00. The stock has a market cap of $279.29 million, a P/E ratio of 11.89 and a beta of 0.44. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.18 and a current ratio of 2.41.
USD Partners (NYSE:USDP) last released its quarterly earnings results on Tuesday, August 7th. The transportation company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). USD Partners had a return on equity of 30.36% and a net margin of 18.84%. The business had revenue of $29.58 million for the quarter, compared to the consensus estimate of $31.29 million. Equities research analysts anticipate that USD Partners LP will post 0.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Tuesday, November 6th will be given a dividend of $0.357 per share. This represents a $1.43 dividend on an annualized basis and a yield of 13.65%. This is a positive change from USD Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 5th. USD Partners’s dividend payout ratio (DPR) is currently 162.50%.
USD Partners Profile
USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through Terminalling Services and Fleet Services segments. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.
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