Zacks Investment Research upgraded shares of TransMontaigne Partners (NYSE:TLP) from a sell rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $43.00 target price on the pipeline company’s stock.
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. “
Other research analysts have also issued reports about the company. UBS Group lowered their price objective on TransMontaigne Partners from $57.00 to $55.00 and set a buy rating for the company in a research report on Friday, August 10th. TheStreet lowered TransMontaigne Partners from a b rating to a c+ rating in a research report on Wednesday, September 5th. ValuEngine raised TransMontaigne Partners from a sell rating to a hold rating in a research report on Thursday, July 12th. Stifel Nicolaus lowered TransMontaigne Partners from a buy rating to a hold rating and decreased their target price for the company from $43.00 to $40.00 in a research report on Wednesday, July 11th. Finally, Wells Fargo & Co decreased their target price on TransMontaigne Partners from $41.00 to $38.00 and set a market perform rating for the company in a research report on Tuesday, August 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. TransMontaigne Partners has a consensus rating of Hold and a consensus price target of $44.00.
TLP stock opened at $38.70 on Tuesday. TransMontaigne Partners has a 1-year low of $33.97 and a 1-year high of $43.14. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $632.34 million, a PE ratio of 17.59, a price-to-earnings-growth ratio of 4.46 and a beta of 0.24.
TransMontaigne Partners (NYSE:TLP) last posted its quarterly earnings data on Thursday, August 9th. The pipeline company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.23). TransMontaigne Partners had a return on equity of 10.81% and a net margin of 19.14%. The business had revenue of $55.34 million during the quarter, compared to the consensus estimate of $57.48 million. Analysts expect that TransMontaigne Partners will post 1.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 31st will be given a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 8.32%. This is a positive change from TransMontaigne Partners’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, October 30th. TransMontaigne Partners’s payout ratio is presently 144.55%.
A number of institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in TransMontaigne Partners by 5.1% in the 1st quarter. California Public Employees Retirement System now owns 27,953 shares of the pipeline company’s stock valued at $1,000,000 after buying an additional 1,365 shares in the last quarter. Searle & CO. increased its position in TransMontaigne Partners by 7.6% in the 2nd quarter. Searle & CO. now owns 21,355 shares of the pipeline company’s stock valued at $787,000 after buying an additional 1,500 shares in the last quarter. Stifel Financial Corp increased its position in TransMontaigne Partners by 19.3% in the 1st quarter. Stifel Financial Corp now owns 15,769 shares of the pipeline company’s stock valued at $565,000 after buying an additional 2,556 shares in the last quarter. Principal Financial Group Inc. increased its position in TransMontaigne Partners by 12.4% in the 1st quarter. Principal Financial Group Inc. now owns 29,479 shares of the pipeline company’s stock valued at $1,055,000 after buying an additional 3,254 shares in the last quarter. Finally, Tiedemann Advisors LLC increased its position in TransMontaigne Partners by 6.6% in the 2nd quarter. Tiedemann Advisors LLC now owns 60,780 shares of the pipeline company’s stock valued at $2,239,000 after buying an additional 3,750 shares in the last quarter. 61.92% of the stock is owned by institutional investors and hedge funds.
About TransMontaigne Partners
TransMontaigne Partners L.P. provides integrated terminaling, storage, transportation, and related services. The company operates through Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals, Southeast terminals, and West Coast terminals segments. It offers its services for companies engaged in the trading, distribution, and marketing of light and heavy refined petroleum products, crude oil, chemicals, fertilizers, and other liquid products.
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