TransMontaigne Partners L.P. (TLP) Earns “Hold” Rating from DA Davidson
Other research analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the company a buy rating in a research note on Wednesday, August 10th. Mitsubishi UFJ Financial Group initiated coverage on TransMontaigne Partners L.P. in a research note on Thursday, September 1st. They issued a neutral rating and a $47.00 price objective for the company. Finally, FBR & Co initiated coverage on TransMontaigne Partners L.P. in a research note on Friday, September 9th. They issued an outperform rating and a $49.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $46.50.
Shares of TransMontaigne Partners L.P. (NYSE:TLP) opened at 41.95 on Wednesday. The company has a market capitalization of $676.78 million, a P/E ratio of 20.07 and a beta of 0.48. The stock’s 50 day moving average price is $40.60 and its 200 day moving average price is $40.87. TransMontaigne Partners L.P. has a 52-week low of $20.26 and a 52-week high of $46.45.
TransMontaigne Partners L.P. (NYSE:TLP) last announced its earnings results on Tuesday, November 8th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.12. The business had revenue of $40.60 million for the quarter, compared to analyst estimates of $40.39 million. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. On average, equities research analysts forecast that TransMontaigne Partners L.P. will post $2.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, October 27th. This is a boost from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.67%.
Several institutional investors have recently added to or reduced their stakes in TLP. ArcLight Capital Partners LLC acquired a new position in TransMontaigne Partners L.P. during the second quarter worth $130,120,000. River Road Asset Management LLC boosted its position in TransMontaigne Partners L.P. by 2.8% in the third quarter. River Road Asset Management LLC now owns 410,248 shares of the company’s stock worth $16,927,000 after buying an additional 11,106 shares in the last quarter. Wells Fargo & Company MN boosted its position in TransMontaigne Partners L.P. by 27.4% in the third quarter. Wells Fargo & Company MN now owns 353,898 shares of the company’s stock worth $14,602,000 after buying an additional 76,219 shares in the last quarter. First Trust Advisors LP boosted its position in TransMontaigne Partners L.P. by 17.1% in the third quarter. First Trust Advisors LP now owns 168,403 shares of the company’s stock worth $6,948,000 after buying an additional 24,633 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in TransMontaigne Partners L.P. by 1,113.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 151,716 shares of the company’s stock worth $6,231,000 after buying an additional 139,216 shares in 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.
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