TransMontaigne Partners L.P. (NYSE:TLP)’s share price rose 3.3% on Tuesday after the company announced a dividend. The company traded as high as $41.99 and last traded at $41.75, with a volume of 74,775 shares trading hands. The stock had previously closed at $40.42.

The newly announced dividend which will be paid on Monday, November 7th. Shareholders of record on Monday, October 31st will be issued a $0.70 dividend. The ex-dividend date is Thursday, October 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.63%. This is a boost from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.69.

TLP has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of TransMontaigne Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Stifel Nicolaus raised their price target on shares of TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. DA Davidson initiated coverage on shares of TransMontaigne Partners L.P. in a report on Thursday, August 18th. They issued a “neutral” rating and a $42.50 price target for the company. Mitsubishi UFJ Financial Group initiated coverage on shares of TransMontaigne Partners L.P. in a report on Thursday, September 1st. They issued a “neutral” rating and a $47.00 price target for the company. Finally, FBR & Co initiated coverage on shares of TransMontaigne Partners L.P. in a report on Friday, September 9th. They issued an “outperform” rating and a $49.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.38.

The stock has a market capitalization of $681.09 million, a P/E ratio of 22.52 and a beta of 0.48. The company has a 50-day moving average of $41.78 and a 200-day moving average of $40.76.

TransMontaigne Partners L.P. (NYSE:TLP) last released its earnings results on Tuesday, August 9th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm earned $41.14 million during the quarter, compared to analysts’ expectations of $39.80 million. TransMontaigne Partners L.P.’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities analysts forecast that TransMontaigne Partners L.P. will post $1.90 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in TLP. Eqis Capital Management Inc. bought a new position in shares of TransMontaigne Partners L.P. during the third quarter valued at $207,000. Cypress Wealth Advisors LLC bought a new position in shares of TransMontaigne Partners L.P. during the first quarter valued at $253,000. JPMorgan Chase & Co. raised its position in shares of TransMontaigne Partners L.P. by 304.7% in the second quarter. JPMorgan Chase & Co. now owns 6,228 shares of the company’s stock valued at $256,000 after buying an additional 4,689 shares during the last quarter. Commonwealth Equity Services Inc raised its position in shares of TransMontaigne Partners L.P. by 1.5% in the second quarter. Commonwealth Equity Services Inc now owns 6,872 shares of the company’s stock valued at $282,000 after buying an additional 102 shares during the last quarter. Finally, Creative Planning raised its position in shares of TransMontaigne Partners L.P. by 14.8% in the third quarter. Creative Planning now owns 8,899 shares of the company’s stock valued at $367,000 after buying an additional 1,150 shares during the last quarter.

About TransMontaigne Partners L.P.

TransMontaigne Partners L.P. (TransMontaigne Partners) is a terminaling and transportation company with operations in the United States along the Gulf Coast, in the Midwest, in Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. Its segments are Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals and Southeast terminals.

5 Day Chart for NYSE:TLP

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