B.Riley FBR Keeps Their Hold Rating on USD Partners

B.Riley FBR analyst Robert Balsamo maintained a Hold rating on USD Partners (NYSE: USDP) today and set a price target of $11. The company’s shares opened today at $11.

Balsamo noted:

“Operational results were in line with B. Riley FBR estimates as USD Partners LP (USDP) saw some incremental contribution from its Stroud assets. As expected, the benefits from Canadian export activity are not likely to impact cashflows until the back half of 2018. Mgmt continues to highlight the ramp of activity at Hardisty and indicated that current demand is exceeding available terminal capacity. USDP has provided some incremental contract extensions and capacity utilization updates.”

According to TipRanks.com, Balsamo is ranked 0 out of 5 stars with an average return of -6.9% and a 45.5% success rate. Balsamo covers the Basic Materials sector, focusing on stocks such as NuStar GP Holdings, Sprague Resources, and Martin Midstream.

USD Partners has an analyst consensus of Hold, with a price target consensus of $11.

See today’s analyst top recommended stocks >>

Based on USD Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $2.09 million. In comparison, last year the company had a net profit of $5.08 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

USD Partners LP is fee-based limited partnership company, which engages in the acquisition, development, and operation of midstream infrastructure and logistics solutions for crude oil, biofuels and other energy-related products. It operates through two segments: Terminalling Services and Fleet Services.