Alon USA Partners LP (NYSE:ALDW) announced a quarterly dividend on Tuesday, May 9th. Shareholders of record on Monday, May 22nd will be paid a dividend of 0.38 per share by the oil and gas company on Tuesday, May 30th. This represents a $1.52 dividend on an annualized basis and a yield of 13.64%. The ex-dividend date is Thursday, May 18th. This is an increase from Alon USA Partners’s previous quarterly dividend of $0.11.
Alon USA Partners has decreased its dividend payment by an average of 48.8% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.
Alon USA Partners (NYSE:ALDW) traded down 1.42% on Friday, reaching $11.14. 120,701 shares of the company’s stock were exchanged. The company has a market cap of $696.47 million, a price-to-earnings ratio of 28.71 and a beta of 1.05. The stock’s 50 day moving average is $9.63 and its 200 day moving average is $9.57. Alon USA Partners has a 52 week low of $7.63 and a 52 week high of $12.44.
Alon USA Partners (NYSE:ALDW) last released its earnings results on Monday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.22. The business had revenue of $544.50 million for the quarter, compared to analyst estimates of $427.82 million. Alon USA Partners had a net margin of 0.11% and a return on equity of 1.64%. The business’s revenue was up 48.0% on a year-over-year basis. During the same period last year, the company posted ($0.14) EPS. On average, equities analysts anticipate that Alon USA Partners will post $1.17 earnings per share for the current year.
Several analysts have recently commented on the stock. Stifel Nicolaus raised shares of Alon USA Partners from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Friday, April 21st. Citigroup Inc reaffirmed a “buy” rating and set a $12.00 price target (down previously from $13.50) on shares of Alon USA Partners in a research report on Saturday, April 22nd. Finally, Credit Suisse Group AG raised shares of Alon USA Partners from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $11.00 to $12.00 in a research report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $10.70.
About Alon USA Partners
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas. The Company had a crude oil throughput capacity of 73,000 barrels per day, which the Company referred to as its Big Spring refinery, as of December 31, 2016. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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