USD Partners said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.49 annualized). Shareholders of record as of February 7, 2023 will receive the payment on February 17, 2023. Previously, the company paid $0.12 per share.
At the most recent share price of $3.93 / share, the stock’s dividend yield was 12.57%. Additionally, the company’s dividend payout ratio is -0.30, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company’s 3-Year dividend growth rate is -0.66%.
Analyst Price Forecast Suggests 55.73% Upside
As of January 26, 2023, the average one-year price target for USD Partners is $6.12. The forecasts range from a low of $6.06 to a high of $6.30. The average price target represents an increase of 55.73% from its latest reported closing price of $3.93.
The projected annual revenue for USD Partners is $111MM, an increase of 164.04%. The projected annual EPS is $0.12.
Fund Sentiment
There are 22 funds or institutions reporting positions in USD Partners. This is a decrease of one owner(s) or 4.35%.
Average portfolio weight of all funds dedicated to the company is 0.0212%, a decrease of 73.1817%. Total shares owned by institutions decreased in the last three months by 4.47% to 3,170K shares.
What are large shareholders doing?
Evergreen Capital Management holds 697,662 shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 912,963 shares, representing a decrease of 30.86%. The firm decreased its portfolio allocation in USDP by 53.84% over the last quarter.
Wells Fargo holds 677,435 shares representing 2.03% ownership of the company. In it’s prior filing, the firm reported owning 653,864 shares, representing an increase of 3.48%. The firm decreased its portfolio allocation in USDP by 15.64% over the last quarter.
Jpmorgan Chase & holds 475,827 shares representing 1.43% ownership of the company. In it’s prior filing, the firm reported owning 478,886 shares, representing a decrease of 0.64%. The firm decreased its portfolio allocation in USDP by 20.80% over the last quarter.
Wunderlich Securities holds 353,747 shares representing 1.06% ownership of the company. In it’s prior filing, the firm reported owning 101,640 shares, representing an increase of 71.27%. The firm decreased its portfolio allocation in USDP by 95.44% over the last quarter.
National Asset Management holds 327,411 shares representing 0.98% ownership of the company.
USD Partners Background Information
(This description is provided by the company.)
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (‘USD’) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers.
This article originally appeared on Fintel
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