Andeavor Logistics LP (ANDX) Short Interest Down 38.1% in September

Andeavor Logistics LP (NYSE:ANDX) saw a large decrease in short interest in September. As of September 28th, there was short interest totalling 1,669,458 shares, a decrease of 38.1% from the September 14th total of 2,695,063 shares. Based on an average daily trading volume, of 657,022 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.9% of the company’s shares are sold short.

In other Andeavor Logistics news, Director Jeff A. Stevens purchased 56,700 shares of the stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $48.79 per share, for a total transaction of $2,766,393.00. Following the acquisition, the director now owns 402,954 shares in the company, valued at approximately $19,660,125.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff A. Stevens purchased 18,256 shares of the stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $48.70 per share, with a total value of $889,067.20. Following the completion of the acquisition, the director now owns 450,193 shares in the company, valued at approximately $21,924,399.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 133,643 shares of company stock valued at $6,594,124. 0.15% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Global X Management Co LLC lifted its holdings in shares of Andeavor Logistics by 23.3% in the 2nd quarter. Global X Management Co LLC now owns 1,042,952 shares of the oil and gas company’s stock valued at $44,357,000 after buying an additional 197,144 shares during the period. Franklin Square Holdings L.P. lifted its holdings in shares of Andeavor Logistics by 29.2% in the 2nd quarter. Franklin Square Holdings L.P. now owns 29,190 shares of the oil and gas company’s stock valued at $1,241,000 after buying an additional 6,600 shares during the period. Canton Hathaway LLC acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at approximately $1,527,000. Eagle Global Advisors LLC raised its holdings in Andeavor Logistics by 18.4% during the second quarter. Eagle Global Advisors LLC now owns 2,842,150 shares of the oil and gas company’s stock worth $120,877,000 after purchasing an additional 440,833 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in Andeavor Logistics during the second quarter worth $25,105,000. 37.97% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on ANDX shares. ValuEngine raised Andeavor Logistics from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Morgan Stanley increased their price target on Andeavor Logistics from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 24th. Credit Suisse Group started coverage on Andeavor Logistics in a research report on Thursday, October 11th. They issued an “underperform” rating and a $46.00 price target on the stock. Zacks Investment Research raised Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Royal Bank of Canada reduced their price target on Andeavor Logistics from $51.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $52.06.

NYSE:ANDX traded down $1.27 during mid-day trading on Friday, reaching $38.79. 416,725 shares of the stock were exchanged, compared to its average volume of 562,649. The company has a market capitalization of $8.85 billion, a PE ratio of 15.45, a P/E/G ratio of 4.41 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.57. Andeavor Logistics has a 1 year low of $38.50 and a 1 year high of $55.21.

Andeavor Logistics (NYSE:ANDX) last released its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $843.00 million for the quarter, compared to the consensus estimate of $571.56 million. Andeavor Logistics had a return on equity of 19.42% and a net margin of 17.74%. The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. As a group, sell-side analysts anticipate that Andeavor Logistics will post 2.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be issued a $1.03 dividend. This is a boost from Andeavor Logistics’s previous quarterly dividend of $0.97. This represents a $4.12 annualized dividend and a dividend yield of 10.62%. The ex-dividend date is Friday, November 2nd. Andeavor Logistics’s dividend payout ratio (DPR) is currently 164.14%.

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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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