FY2017 Earnings Estimate for Tesoro Logistics LP (TLLP) Issued By Jefferies Group
Tesoro Logistics LP (NASDAQ:TLLP) – Equities researchers at Jefferies Group lowered their FY2017 earnings per share estimates for shares of Tesoro Logistics in a research report issued on Thursday. Jefferies Group analyst C. Goldman now anticipates that the brokerage will post earnings per share of $2.41 for the year, down from their prior estimate of $2.42. Jefferies Group currently has a “Hold” rating and a $49.00 price objective on the stock.
Tesoro Logistics (NASDAQ:TLLP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by $0.12. The company had revenue of $293 million for the quarter, compared to analyst estimates of $275 million. During the same period last year, the company earned $0.60 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year.
Several other brokerages also recently issued reports on TLLP. Mizuho began coverage on shares of Tesoro Logistics in a research note on Thursday, September 29th. They issued a “buy” rating and a $58.00 target price on the stock. Zacks Investment Research downgraded shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Deutsche Bank AG set a $54.00 target price on shares of Tesoro Logistics and gave the stock a “buy” rating in a research note on Monday.
Tesoro Logistics (NASDAQ:TLLP) traded down 0.86% on Friday, reaching $46.00. 474,694 shares of the company were exchanged. The firm has a 50-day moving average of $47.24 and a 200 day moving average of $47.22. The firm has a market capitalization of $4.65 billion and a P/E ratio of 20.66. Tesoro Logistics has a 12-month low of $35.18 and a 12-month high of $56.92.
In related news, CFO Steven Sterin acquired 1,600 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were bought at an average price of $47.34 per share, for a total transaction of $75,744.00. Following the completion of the transaction, the chief financial officer now directly owns 2,514 shares in the company, valued at $119,012.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently bought a new position in Tesoro Logistics stock. Creative Planning acquired a new position in shares of Tesoro Logistics LP (NASDAQ:TLLP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,500 shares of the company’s stock, valued at approximately $121,000.
Tesoro Logistics Company Profile
Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.
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