Valero Energy Partners is an MLP operating logistics assets supporting its refining sponsor.
Valero Energy Partners’ third-quarter results were as we expected--though some Valero refineries were disrupted because of Hurricane Harvey, Valero Partners’ assets performed well. We plan to maintain our $52 fair value estimate and wide moat rating. Revenue and EBITDA improved to $109 million and $79 million from $92 million and $64 million last year, due to higher pipeline and terminaling throughput thanks to contributions from the Meraux and Three Rivers terminals and Red River pipeline. The ...
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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