TransMontaigne Partners L.P. (NYSE:TLP) announced a quarterly dividend on Friday, October 13th, Fidelity reports. Stockholders of record on Monday, October 23rd will be given a dividend of 0.755 per share by the pipeline company on Tuesday, October 31st. This represents a $3.02 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date is Friday, October 20th. This is a boost from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.74.
TransMontaigne Partners L.P. has raised its dividend payment by an average of 2.0% annually over the last three years and has raised its dividend every year for the last 7 years. TransMontaigne Partners L.P. has a dividend payout ratio of 111.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TransMontaigne Partners L.P. to earn $2.67 per share next year, which means the company may not be able to cover its $3.02 annual dividend with an expected future payout ratio of 113.1%.
Shares of TransMontaigne Partners L.P. (NYSE TLP) opened at 41.29 on Friday. The company has a market cap of $667.29 million, a PE ratio of 16.19 and a beta of 0.29. TransMontaigne Partners L.P. has a 12-month low of $36.93 and a 12-month high of $49.31. The stock’s 50 day moving average price is $43.16 and its 200-day moving average price is $43.30.
TransMontaigne Partners L.P. (NYSE:TLP) last released its earnings results on Tuesday, August 8th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The company had revenue of $45.40 million for the quarter, compared to the consensus estimate of $45.64 million. TransMontaigne Partners L.P. had a net margin of 28.78% and a return on equity of 13.38%. TransMontaigne Partners L.P.’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, equities research analysts forecast that TransMontaigne Partners L.P. will post $2.74 earnings per share for the current year.
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Several research firms have recently issued reports on TLP. Zacks Investment Research lowered shares of TransMontaigne Partners L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub lowered shares of TransMontaigne Partners L.P. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 target price on shares of TransMontaigne Partners L.P. in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. TransMontaigne Partners L.P. currently has a consensus rating of “Hold” and a consensus price target of $50.25.
TransMontaigne Partners L.P. Company Profile
TransMontaigne Partners L.P. is a terminaling and transportation company with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. The Company operates its business in five principal business segments: Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals and Southeast terminals.
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