Andeavor Logistics (ANDX) Announces Earnings Results, Hits Expectations

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Andeavor Logistics (NYSE:ANDX) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68, MarketWatch Earnings reports. The firm had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $571.56 million. Andeavor Logistics had a net margin of 16.45% and a return on equity of 18.81%. Andeavor Logistics’s revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share.

Shares of NYSE ANDX traded up $0.53 during trading on Wednesday, reaching $40.98. 12,651 shares of the stock were exchanged, compared to its average volume of 565,291. Andeavor Logistics has a twelve month low of $39.17 and a twelve month high of $55.21. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.57. The stock has a market cap of $8.63 billion, a P/E ratio of 16.05, a PEG ratio of 4.30 and a beta of 1.63.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be given a dividend of $1.03 per share. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. This represents a $4.12 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date of this dividend is Friday, November 2nd. Andeavor Logistics’s payout ratio is presently 164.14%.

In other news, Director Jeff A. Stevens bought 19,512 shares of Andeavor Logistics stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average cost of $49.94 per share, with a total value of $974,429.28. Following the completion of the transaction, the director now owns 506,147 shares in the company, valued at approximately $25,276,981.18. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeff A. Stevens bought 39,175 shares of Andeavor Logistics stock in a transaction dated Monday, August 27th. The shares were purchased at an average cost of $50.14 per share, for a total transaction of $1,964,234.50. Following the completion of the transaction, the director now owns 527,136 shares of the company’s stock, valued at approximately $26,430,599.04. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 182,017 shares of company stock worth $8,984,283. Corporate insiders own 0.15% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ANDX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Andeavor Logistics during the second quarter worth $75,252,000. HITE Hedge Asset Management LLC acquired a new position in shares of Andeavor Logistics during the second quarter worth $25,105,000. Eagle Global Advisors LLC raised its holdings in Andeavor Logistics by 18.4% in the second quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock valued at $120,877,000 after acquiring an additional 440,833 shares in the last quarter. Alps Advisors Inc. raised its holdings in Andeavor Logistics by 6.3% in the second quarter. Alps Advisors Inc. now owns 7,448,151 shares of the oil and gas company’s stock valued at $344,030,000 after acquiring an additional 440,575 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in Andeavor Logistics by 3.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 13,539,065 shares of the oil and gas company’s stock valued at $575,816,000 after acquiring an additional 417,081 shares in the last quarter. 37.97% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. ValuEngine raised shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. SunTrust Banks set a $51.00 price target on shares of Andeavor Logistics and gave the company a “buy” rating in a research report on Sunday, August 19th. Raymond James cut shares of Andeavor Logistics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. Finally, Mitsubishi UFJ Financial Group lifted their price target on shares of Andeavor Logistics to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.06.

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About Andeavor Logistics

Andeavor Logistics LP operates as a diversified midstream company in the United States. The Terminalling and Transportation segment comprises the Northwest Products Pipeline, including a regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport; a regulated common carrier refined products pipeline system connecting its refinery to its terminals in Anchorage, Alaska; tankage and related equipment at the refinery; and crude oil and refined products terminals and storage facilities in the western, and southwest and midwestern U.S.

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Earnings History for Andeavor Logistics (NYSE:ANDX)

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