TransMontaigne Partners (NYSE:TLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, February 2nd.
According to Zacks, “TransMontaigne Partners L.P. is a refined petroleum products terminaling and pipeline company based in Denver, Colorado with operations currently in Florida, Southwest Missouri and Northwest Arkansas. They provide integrated terminaling, storage, pipeline and related services for companies engaged in the distribution and marketing of refined petroleum products and crude oil, including TransMontaigne Inc. “
A number of other equities analysts have also issued reports on the stock. B. Riley set a $45.00 target price on shares of TransMontaigne Partners and gave the stock a “neutral” rating in a research report on Monday, December 18th. Wells Fargo & Co assumed coverage on shares of TransMontaigne Partners in a research report on Thursday, November 30th. They set a “market perform” rating and a $44.00 target price on the stock. Finally, UBS Group boosted their target price on shares of TransMontaigne Partners from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.00.
TransMontaigne Partners (NYSE TLP) opened at $39.75 on Friday. TransMontaigne Partners has a 52-week low of $37.30 and a 52-week high of $49.31. The stock has a market cap of $616.20, a price-to-earnings ratio of 16.29 and a beta of 0.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.85.
In other TransMontaigne Partners news, Director Steven A. Blank purchased 1,000 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were purchased at an average price of $39.56 per share, for a total transaction of $39,560.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in TransMontaigne Partners during the second quarter worth $154,000. Archford Capital Strategies LLC boosted its stake in TransMontaigne Partners by 1,058.0% during the second quarter. Archford Capital Strategies LLC now owns 2,895 shares of the pipeline company’s stock worth $237,000 after buying an additional 2,645 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in TransMontaigne Partners during the second quarter worth $244,000. Principal Financial Group Inc. acquired a new stake in TransMontaigne Partners during the second quarter worth $576,000. Finally, Stifel Financial Corp boosted its stake in TransMontaigne Partners by 0.9% during the second quarter. Stifel Financial Corp now owns 18,676 shares of the pipeline company’s stock worth $781,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.
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About TransMontaigne Partners
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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