Renaissance Technologies LLC Purchases Shares of 27,200 USD Partners LP (USDP)

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Renaissance Technologies LLC purchased a new stake in USD Partners LP (NYSE:USDP) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 27,200 shares of the transportation company’s stock, valued at approximately $292,000. Renaissance Technologies LLC owned 0.10% of USD Partners as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC boosted its holdings in shares of USD Partners by 227.0% in the second quarter. HITE Hedge Asset Management LLC now owns 216,787 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 150,499 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of USD Partners in the second quarter valued at approximately $119,000. Arrow Investment Advisors LLC acquired a new position in shares of USD Partners in the second quarter valued at approximately $491,000. Finally, Segment Wealth Management LLC acquired a new position in shares of USD Partners in the second quarter valued at approximately $118,000. Institutional investors own 26.03% of the company’s stock.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of USD Partners from a “sell” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine upgraded shares of USD Partners from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Finally, B. Riley set a $14.00 target price on shares of USD Partners and gave the stock a “buy” rating in a report on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.00.

Shares of USDP opened at $10.46 on Friday. USD Partners LP has a 12 month low of $9.15 and a 12 month high of $12.00. The firm has a market cap of $279.29 million, a P/E ratio of 11.89 and a beta of 0.44. The company has a quick ratio of 2.18, a current ratio of 2.41 and a debt-to-equity ratio of 2.65.

USD Partners (NYSE:USDP) last announced its earnings results on Tuesday, August 7th. The transportation company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). USD Partners had a return on equity of 30.36% and a net margin of 18.84%. The business had revenue of $29.58 million for the quarter, compared to analyst estimates of $31.29 million. As a group, equities research analysts predict that USD Partners LP will post 0.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Tuesday, November 6th will be issued a dividend of $0.357 per share. This is a boost from USD Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 5th. This represents a $1.43 annualized dividend and a yield of 13.65%. USD Partners’s dividend payout ratio is presently 162.50%.

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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 Terminalling Services and Fleet Services segments. 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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Institutional Ownership by Quarter for USD Partners (NYSE:USDP)

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