TransMontaigne Partners L.P. (NYSE:TLP) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $44.00.
Several research firms have issued reports on TLP. ValuEngine raised TransMontaigne Partners from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Zacks Investment Research raised TransMontaigne Partners from a “sell” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Tuesday, October 16th. Stifel Nicolaus downgraded TransMontaigne Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $43.00 to $40.00 in a research report on Wednesday, July 11th. UBS Group lowered their price target on TransMontaigne Partners from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. Finally, Wells Fargo & Co reduced their price objective on TransMontaigne Partners from $41.00 to $38.00 and set a “market perform” rating for the company in a report on Tuesday, August 14th.
Several hedge funds have recently added to or reduced their stakes in TLP. First Republic Investment Management Inc. bought a new position in shares of TransMontaigne Partners during the 2nd quarter worth about $201,000. First Hawaiian Bank purchased a new stake in shares of TransMontaigne Partners during the 3rd quarter worth approximately $295,000. Advisors Asset Management Inc. increased its stake in shares of TransMontaigne Partners by 29.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 31,403 shares of the pipeline company’s stock worth $447,000 after purchasing an additional 7,103 shares during the last quarter. Stifel Financial Corp boosted its holdings in TransMontaigne Partners by 19.3% in the 1st quarter. Stifel Financial Corp now owns 15,769 shares of the pipeline company’s stock worth $565,000 after buying an additional 2,556 shares during the period. Finally, Searle & CO. boosted its holdings in TransMontaigne Partners by 7.6% in the 2nd quarter. Searle & CO. now owns 21,355 shares of the pipeline company’s stock worth $787,000 after buying an additional 1,500 shares during the period. 61.97% of the stock is currently owned by institutional investors.
TransMontaigne Partners (NYSE:TLP) last announced its quarterly earnings data on Thursday, August 9th. The pipeline company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.23). TransMontaigne Partners had a net margin of 19.14% and a return on equity of 10.81%. The firm had revenue of $55.34 million during the quarter, compared to the consensus estimate of $57.48 million. As a group, equities research analysts expect that TransMontaigne Partners will post 1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.805 per share. The ex-dividend date is Tuesday, October 30th. This represents a $3.22 dividend on an annualized basis and a yield of 8.36%. This is a boost from TransMontaigne Partners’s previous quarterly dividend of $0.80. TransMontaigne Partners’s dividend payout ratio is 144.55%.
TransMontaigne Partners Company Profile
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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