Valero Energy Partners is an MLP operating logistics assets supporting its refining sponsor.
Valero Energy Partners turned in an as-expected fourth quarter. We plan to maintain our narrow moat rating and do not expect material changes to our $48.50 fair value estimate. EBITDA increased to $91 million from $77 million in the fourth quarter of 2016, primarily due to the Red River pipeline, the Port Arthur, and Parkway pipeline dropdowns, which were completed during the year. Distribution growth for the year was 25%, and the partnership remains on track to deliver 20% growth for 2018.We u...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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