Tesoro Logistics LP (TLLP) Given Average Recommendation of “Buy” by Analysts
Tesoro Logistics LP (NASDAQ:TLLP) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the firm. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $56.20.
Several research firms recently weighed in on TLLP. Mizuho began coverage on Tesoro Logistics in a research report on Friday, September 30th. They set a “buy” rating and a $58.00 price target on the stock. Zacks Investment Research upgraded Tesoro Logistics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 26th. Deutsche Bank AG set a $54.00 price objective on Tesoro Logistics and gave the company a “buy” rating in a research note on Monday, October 10th. Finally, Jefferies Group initiated coverage on Tesoro Logistics in a research note on Tuesday, August 23rd. They set a “hold” rating and a $49.00 price objective for the company.
TRADEMARK VIOLATION WARNING: “Tesoro Logistics LP (TLLP) Given Average Recommendation of “Buy” by Analysts” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/28/tesoro-logistics-lp-tllp-given-average-recommendation-of-buy-by-analysts.html.
Several hedge funds have recently modified their holdings of TLLP. Bank of New York Mellon Corp raised its stake in Tesoro Logistics by 16.4% in the third quarter. Bank of New York Mellon Corp now owns 14,274 shares of the company’s stock valued at $691,000 after buying an additional 2,013 shares in the last quarter. Diversified Trust Co raised its position in Tesoro Logistics by 3.1% in the third quarter. Diversified Trust Co now owns 29,217 shares of the company’s stock worth $1,415,000 after buying an additional 886 shares during the period. Alps Advisors Inc. raised its position in Tesoro Logistics by 14.2% in the third quarter. Alps Advisors Inc. now owns 4,333,752 shares of the company’s stock worth $209,927,000 after buying an additional 539,809 shares during the period. Pointe Capital Management LLC raised its position in Tesoro Logistics by 0.3% in the third quarter. Pointe Capital Management LLC now owns 9,451 shares of the company’s stock worth $458,000 after buying an additional 25 shares during the period. Finally, First Trust Advisors LP raised its position in Tesoro Logistics by 26.8% in the third quarter. First Trust Advisors LP now owns 143,158 shares of the company’s stock worth $6,935,000 after buying an additional 30,216 shares during the period.
Shares of Tesoro Logistics (NASDAQ:TLLP) traded down 0.23% during midday trading on Monday, reaching $47.17. The company had a trading volume of 218,699 shares. The company has a 50-day moving average price of $46.23 and a 200 day moving average price of $47.47. The company has a market capitalization of $4.82 billion and a P/E ratio of 22.78. Tesoro Logistics has a one year low of $35.18 and a one year high of $51.83.
Tesoro Logistics (NASDAQ:TLLP) last released its quarterly earnings results on Monday, October 31st. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.17. The company earned $6.54 billion during the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the previous year, the company earned $0.60 EPS. Equities analysts anticipate that Tesoro Logistics will post $2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were issued a $0.875 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $3.50 annualized dividend and a dividend yield of 7.40%. This is a positive change from Tesoro Logistics’s previous quarterly dividend of $0.84.
About Tesoro Logistics
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.
Receive News & Stock Ratings for Tesoro Logistics LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesoro Logistics LP and related stocks with our FREE daily email newsletter.