TransMontaigne Partners L.P. (NYSE:TLP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The firm currently has a $47.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.63% from the stock’s previous close.

According to Zacks, “TransMontaigne Partners L.P. is a refined petroleum products terminaling and pipeline company based in Denver, Colorado with operations currently in Florida, Southwest Missouri and Northwest Arkansas. They provide integrated terminaling, storage, pipeline and related services for companies engaged in the distribution and marketing of refined petroleum products and crude oil, including TransMontaigne Inc. “

TLP has been the subject of several other research reports. FBR & Co initiated coverage on shares of TransMontaigne Partners L.P. in a research report on Friday, September 9th. They set an “outperform” rating and a $49.00 price target for the company. DA Davidson initiated coverage on shares of TransMontaigne Partners L.P. in a research report on Thursday, August 18th. They set a “neutral” rating and a $42.50 price target for the company. Stifel Nicolaus increased their price target on shares of TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of TransMontaigne Partners L.P. in a research report on Thursday, September 1st. They set a “neutral” rating and a $47.00 price target for the company. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. TransMontaigne Partners L.P. presently has an average rating of “Buy” and an average target price of $46.50.

TransMontaigne Partners L.P. (NYSE:TLP) opened at 41.73 on Friday. The stock has a 50 day moving average of $40.60 and a 200 day moving average of $40.87. TransMontaigne Partners L.P. has a 12 month low of $20.26 and a 12 month high of $46.45. The firm has a market capitalization of $673.23 million, a PE ratio of 19.97 and a beta of 0.48.

TransMontaigne Partners L.P. (NYSE:TLP) last announced its earnings results on Tuesday, November 8th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.12. The firm earned $40.60 million during the quarter, compared to analysts’ expectations of $40.39 million. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities analysts predict that TransMontaigne Partners L.P. will post $2.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Thursday, October 27th. This is a positive change from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.69.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of TransMontaigne Partners L.P. by 459.3% in the second quarter. Bank of New York Mellon Corp now owns 49,153 shares of the company’s stock worth $2,019,000 after buying an additional 40,365 shares in the last quarter. California Public Employees Retirement System raised its position in shares of TransMontaigne Partners L.P. by 3.8% in the second quarter. California Public Employees Retirement System now owns 41,400 shares of the company’s stock worth $1,701,000 after buying an additional 1,500 shares in 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 worth $282,000 after buying an additional 102 shares in the last quarter. River Road Asset Management LLC raised its position in shares of TransMontaigne Partners L.P. by 10.1% in the second quarter. River Road Asset Management LLC now owns 399,142 shares of the company’s stock worth $16,401,000 after buying an additional 36,644 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of TransMontaigne Partners L.P. during the second quarter worth $571,000.

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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