First Trust Advisors LP decreased its stake in PBF Logistics LP (NYSE:PBFX) by 16.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,506 shares of the pipeline company’s stock after selling 66,967 shares during the quarter. First Trust Advisors LP owned approximately 0.82% of PBF Logistics worth $7,193,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PBFX. GSA Capital Partners LLP grew its position in shares of PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after purchasing an additional 1,114 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after purchasing an additional 2,600 shares during the period. JPMorgan Chase & Co. grew its position in shares of PBF Logistics by 3,128.1% in the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after purchasing an additional 43,918 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of PBF Logistics in the second quarter valued at about $1,065,000. Finally, Wells Fargo & Company MN grew its position in shares of PBF Logistics by 18.5% in the second quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after purchasing an additional 12,852 shares during the period. Institutional investors and hedge funds own 41.34% of the company’s stock.
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PBF Logistics LP (PBFX) opened at $19.25 on Tuesday. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.26 and a current ratio of 1.26. PBF Logistics LP has a 52 week low of $17.45 and a 52 week high of $22.70. The company has a market cap of $816.95, a PE ratio of 8.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.26.
PBF Logistics (NYSE:PBFX) last issued its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The company had revenue of $65.50 million for the quarter, compared to the consensus estimate of $64.60 million. During the same period in the previous year, the firm earned $0.50 earnings per share. PBF Logistics’s quarterly revenue was up 35.2% compared to the same quarter last year. equities analysts predict that PBF Logistics LP will post 2.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.97%. This is an increase from PBF Logistics’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, November 10th. PBF Logistics’s payout ratio is 85.71%.
PBFX has been the topic of several research analyst reports. BidaskClub upgraded shares of PBF Logistics from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. UBS AG dropped their target price on shares of PBF Logistics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Credit Suisse Group set a $24.00 price target on shares of PBF Logistics and gave the stock a “hold” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research raised shares of PBF Logistics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. PBF Logistics has an average rating of “Hold” and an average price target of $24.00.
PBF Logistics Profile
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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