(TLLP) Upgraded at Zacks Investment Research
(NASDAQ:TLLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, July 13th. The brokerage currently has a $56.00 price target on the stock.
According to Zacks, “Tesoro Logistics LP is a limited partnership formed to own, operate, develop and acquire crude oil and refined products logistics assets. The Company’s logistics assets are used to gather, transport and store crude oil and to distribute, transport and store refined products. Tesoro Logistics operates its business through two business segments: Crude Oil Gathering and Terminalling, Transportation and Storage. “
Several other equities research analysts have also recently commented on the company. Jefferies Group LLC set a $52.00 price target on and gave the company a “hold” rating in a report on Saturday, June 3rd. Scotiabank reiterated a “buy” rating and issued a $63.00 price objective on shares of in a research report on Thursday, April 27th. BidaskClub upgraded from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Barclays PLC reiterated an “overweight” rating and issued a $65.00 price objective on shares of in a research report on Friday, June 2nd. Finally, SunTrust Banks, Inc. initiated coverage on in a research report on Monday, March 20th. They issued a “buy” rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.33.
(NASDAQ TLLP) traded up 0.25% on Thursday, hitting $52.13. The stock had a trading volume of 339,236 shares. has a 52-week low of $43.00 and a 52-week high of $60.14. The company has a 50 day moving average price of $50.88 and a 200-day moving average price of $53.77.
(NASDAQ:TLLP) last released its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by $0.12. The company had revenue of $420 million during the quarter, compared to the consensus estimate of $348.74 million. During the same period last year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. On average, analysts predict that will post $2.63 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLLP. Tortoise Capital Advisors L.L.C. raised its position in by 2.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 12,086,683 shares of the company’s stock worth $624,761,000 after buying an additional 323,595 shares during the period. Goldman Sachs Group Inc. raised its position in by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,217,956 shares of the company’s stock worth $229,752,000 after buying an additional 570,679 shares during the period. UBS Group AG raised its position in by 2.4% in the first quarter. UBS Group AG now owns 2,795,560 shares of the company’s stock worth $152,275,000 after buying an additional 66,348 shares during the period. Bank of America Corp DE raised its position in by 14.8% in the first quarter. Bank of America Corp DE now owns 2,345,692 shares of the company’s stock worth $127,770,000 after buying an additional 301,921 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in by 11.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,189,600 shares of the company’s stock worth $119,255,000 after buying an additional 228,200 shares during the period.
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