Tesoro Logistics LP (TLLP) Stake Reduced by W.G. Shaheen & Associates DBA Whitney & Co
W.G. Shaheen & Associates DBA Whitney & Co reduced its position in Tesoro Logistics LP (NASDAQ:TLLP) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,635 shares of the company’s stock after selling 3,493 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Tesoro Logistics were worth $1,871,000 as of its most recent filing with the SEC.
Separately, Creative Planning bought a new stake in shares of Tesoro Logistics during the third quarter worth about $121,000.
Tesoro Logistics LP (NASDAQ:TLLP) traded down 1.25% on Monday, reaching $46.69. 451,546 shares of the company’s stock traded hands. The stock has a market capitalization of $4.77 billion and a PE ratio of 22.54. The firm’s 50-day moving average is $46.23 and its 200 day moving average is $47.42. Tesoro Logistics LP has a 52-week low of $35.18 and a 52-week high of $51.83.
Tesoro Logistics (NASDAQ:TLLP) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.17. The firm earned $6.54 billion during the quarter, compared to analyst estimates of $7.74 billion. During the same period last year, the firm earned $0.60 earnings per share. Analysts forecast that Tesoro Logistics LP will post $2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were paid a $0.875 dividend. 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. The ex-dividend date of this dividend was Wednesday, November 2nd.
A number of brokerages recently weighed in on TLLP. Jefferies Group set a $49.00 price objective on shares of Tesoro Logistics and gave the company a “hold” rating in a research report on Saturday, October 15th. Deutsche Bank AG set a $54.00 price objective on shares of Tesoro Logistics and gave the company a “buy” rating in a research report on Monday, October 10th. Mizuho lowered their price objective on shares of Tesoro Logistics from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Finally, Zacks Investment Research downgraded shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $56.00.
Tesoro Logistics Company Profile
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.
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