Andeavor Logistics (ANDX) Bonds Rise 1.2% During Trading

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An issue of Andeavor Logistics LP (NYSE:ANDX) debt rose 1.2% against its face value during trading on Thursday. The high-yield issue of debt has a 5.2% coupon and will mature on December 1, 2047. The bonds in the issue are now trading at $98.42 and were trading at $97.12 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Several equities research analysts have weighed in on the stock. Citigroup cut their target price on shares of Andeavor Logistics from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. Zacks Investment Research lowered shares of Andeavor Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. ValuEngine lowered shares of Andeavor Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Finally, Barclays assumed coverage on shares of Andeavor Logistics in a report on Thursday, December 13th. They issued an “equal weight” rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $47.31.

Andeavor Logistics stock traded up $0.49 during mid-day trading on Thursday, reaching $35.37. The company’s stock had a trading volume of 749,535 shares, compared to its average volume of 691,930. The company has a market cap of $8.56 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.60. Andeavor Logistics LP has a 12 month low of $31.49 and a 12 month high of $50.82. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.10.

Andeavor Logistics (NYSE:ANDX) last released its earnings results on Thursday, February 7th. The oil and gas company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $647.48 million. Andeavor Logistics had a net margin of 26.47% and a return on equity of 18.11%. The firm’s revenue for the quarter was down 44.1% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, equities research analysts forecast that Andeavor Logistics LP will post 3.04 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in ANDX. Alps Advisors Inc. grew its position in Andeavor Logistics by 33.1% in the fourth quarter. Alps Advisors Inc. now owns 10,451,568 shares of the oil and gas company’s stock valued at $339,571,000 after purchasing an additional 2,597,131 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Andeavor Logistics by 8.8% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,726,926 shares of the oil and gas company’s stock valued at $715,140,000 after acquiring an additional 1,187,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Andeavor Logistics in the third quarter valued at $43,476,000. Virtus ETF Advisers LLC acquired a new stake in Andeavor Logistics in the third quarter valued at $34,442,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Andeavor Logistics by 28.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,764,081 shares of the oil and gas company’s stock valued at $89,805,000 after acquiring an additional 613,411 shares during the last quarter. 34.35% of the stock is owned by institutional investors and hedge funds.

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Andeavor Logistics Company Profile (NYSE:ANDX)

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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