Arc Logistic Partners LP (NYSE:ARCX) issued its earnings results on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.03, Morningstar.com reports. The firm had revenue of $26.59 million during the quarter, compared to analyst estimates of $26.71 million. Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%.
Shares of Arc Logistic Partners (NYSE ARCX) opened at 14.59 on Friday. The firm’s 50-day moving average is $15.06 and its 200-day moving average is $14.79. Arc Logistic Partners has a 12-month low of $12.86 and a 12-month high of $17.40. The firm has a market cap of $285.16 million, a PE ratio of 24.00 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, August 4th. This represents a $1.76 dividend on an annualized basis and a yield of 12.06%. Arc Logistic Partners’s payout ratio is currently 247.89%.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Arc Logistic Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus raised shares of Arc Logistic Partners from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $18.00 in a report on Wednesday, August 9th. Finally, ValuEngine cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.
A number of large investors have recently modified their holdings of the company. Orinda Asset Management LLC bought a new stake in shares of Arc Logistic Partners during the first quarter valued at $516,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Arc Logistic Partners by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,600 shares of the pipeline company’s stock valued at $593,000 after buying an additional 1,300 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Arc Logistic Partners during the first quarter valued at $174,000. Renaissance Technologies LLC raised its stake in shares of Arc Logistic Partners by 289.9% in the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after buying an additional 77,656 shares in the last quarter. Finally, KCG Holdings Inc. bought a new stake in shares of Arc Logistic Partners during the first quarter valued at $464,000. 43.00% of the stock is currently owned by hedge funds and other institutional investors.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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