Analysts Set Transocean Partners LLC (RIGP) PT at $11.19
Transocean Partners LLC (NYSE:RIGP) has received an average rating of “Hold” from the six ratings firms that are presently covering the stock. Six research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.19.
A number of analysts have recently commented on RIGP shares. Morgan Stanley lowered shares of Transocean Partners from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Tuesday, July 26th. Zacks Investment Research downgraded shares of Transocean Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Sidoti downgraded shares of Transocean Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $12.00 in a report on Monday, August 1st.
A number of institutional investors have recently modified their holdings of RIGP. BlackRock Group LTD increased its position in shares of Transocean Partners by 2.7% in the first quarter. BlackRock Group LTD now owns 100,972 shares of the company’s stock valued at $896,000 after buying an additional 2,688 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Transocean Partners by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,030,831 shares of the company’s stock valued at $9,133,000 after buying an additional 44,736 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Transocean Partners by 38.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,309,410 shares of the company’s stock valued at $29,321,000 after buying an additional 913,201 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Transocean Partners by 137.7% in the second quarter. Acadian Asset Management LLC now owns 188,696 shares of the company’s stock valued at $2,380,000 after buying an additional 109,328 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new position in shares of Transocean Partners during the second quarter valued at $1,169,000. 33.30% of the stock is currently owned by institutional investors and hedge funds.
Transocean Partners (NYSE:RIGP) opened at 11.84 on Monday. Transocean Partners has a one year low of $5.89 and a one year high of $13.47. The stock has a 50 day moving average of $11.66 and a 200-day moving average of $11.85. The company’s market cap is $811.05 million.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Monday, November 14th will be issued a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a yield of 12.25%. The ex-dividend date is Thursday, November 10th. Transocean Partners’s dividend payout ratio is currently -302.08%.
About Transocean Partners
Transocean Partners LLC a limited liability company. The Company is formed by Transocean Partners Holdings Limited and a subsidiary of Transocean Ltd. (Transocean), to own, operate and acquire advanced offshore drilling rigs. The Company’s assets consist of over 50% ownership interest in each of the entities that owns and operates over three ultra-deepwater drilling rigs that are operating in the U.S.
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