USD Partners LP (NYSE:USDP) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 17,600 shares, an increase of 131.6% from the June 15th total of 7,600 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 42,300 shares, the days-to-cover ratio is presently 0.4 days.
USDP has been the topic of a number of analyst reports. TheStreet cut shares of USD Partners from a “b-” rating to a “c+” rating in a research report on Friday, May 10th. Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Bank of America set a $221.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $13.00.
Shares of USDP stock traded up $0.05 during mid-day trading on Friday, reaching $11.75. The stock had a trading volume of 55,600 shares, compared to its average volume of 54,412. The company has a 50-day moving average price of $11.37. USD Partners has a 52-week low of $9.15 and a 52-week high of $11.92. The company has a market capitalization of $313.31 million, a price-to-earnings ratio of 15.26 and a beta of 0.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 3.49.
USD Partners (NYSE:USDP) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). USD Partners had a net margin of 13.56% and a return on equity of 22.10%. The firm had revenue of $27.37 million during the quarter. Equities analysts forecast that USD Partners will post 0.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be given a $0.365 dividend. This is a boost from USD Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 12.43%. USD Partners’s payout ratio is presently 188.31%.
Several hedge funds have recently added to or reduced their stakes in USDP. Citigroup Inc. purchased a new position in shares of USD Partners in the fourth quarter valued at about $53,000. Barclays PLC purchased a new position in shares of USD Partners during the fourth quarter valued at about $76,000. LPL Financial LLC purchased a new position in shares of USD Partners during the fourth quarter valued at about $158,000. First Republic Investment Management Inc. increased its position in shares of USD Partners by 8.0% during the first quarter. First Republic Investment Management Inc. now owns 17,530 shares of the transportation company’s stock valued at $190,000 after buying an additional 1,301 shares during the period. Finally, Salient Capital Advisors LLC purchased a new position in shares of USD Partners during the first quarter valued at about $376,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.
About USD Partners
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 two segments, Terminalling Services and Fleet Services. 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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