Morgan Stanley trimmed its holdings in TransMontaigne Partners L.P. (NYSE:TLP) by 19.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,837 shares of the pipeline company’s stock after selling 5,951 shares during the quarter. Morgan Stanley owned 0.15% of TransMontaigne Partners L.P. worth $1,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of TransMontaigne Partners L.P. by 375.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,800 shares of the pipeline company’s stock worth $170,000 after acquiring an additional 3,000 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of TransMontaigne Partners L.P. by 1.2% in the 1st quarter. Blair William & Co. IL now owns 9,410 shares of the pipeline company’s stock worth $420,000 after acquiring an additional 116 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of TransMontaigne Partners L.P. in the 1st quarter worth approximately $545,000. Edge Asset Management Inc. lifted its holdings in shares of TransMontaigne Partners L.P. by 19.9% in the 1st quarter. Edge Asset Management Inc. now owns 13,708 shares of the pipeline company’s stock worth $612,000 after acquiring an additional 2,274 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of TransMontaigne Partners L.P. in the 1st quarter worth approximately $779,000. Hedge funds and other institutional investors own 62.40% of the company’s stock.

Shares of TransMontaigne Partners L.P. (TLP) traded down 0.50% during midday trading on Friday, hitting $44.17. 2,618 shares of the stock were exchanged. The firm has a market cap of $713.83 million, a PE ratio of 17.32 and a beta of 0.31. TransMontaigne Partners L.P. has a 52-week low of $36.93 and a 52-week high of $49.31. The firm’s 50-day moving average is $44.45 and its 200 day moving average is $43.97.

TransMontaigne Partners L.P. (NYSE:TLP) last announced its earnings results on Tuesday, August 8th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. TransMontaigne Partners L.P. had a return on equity of 13.38% and a net margin of 28.78%. The company had revenue of $45.40 million for the quarter, compared to the consensus estimate of $45.64 million. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up 10.5% on a year-over-year basis. On average, analysts forecast that TransMontaigne Partners L.P. will post $2.71 earnings per share for the current year.

TLP has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of TransMontaigne Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a report on Saturday, May 13th. BidaskClub upgraded shares of TransMontaigne Partners L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. DA Davidson upgraded shares of TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $48.00 to $51.00 in a report on Thursday, June 15th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of TransMontaigne Partners L.P. in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.25.

TRADEMARK VIOLATION NOTICE: “Morgan Stanley Sells 5,951 Shares of TransMontaigne Partners L.P. (TLP)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/09/08/morgan-stanley-sells-5951-shares-of-transmontaigne-partners-l-p-tlp.html.

About TransMontaigne Partners L.P.

TransMontaigne Partners L.P. is a terminaling and transportation company with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. The Company operates its business in five principal business segments: Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals and Southeast terminals.

Institutional Ownership by Quarter for TransMontaigne Partners L.P. (NYSE:TLP)

Receive News & Stock Ratings for TransMontaigne Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransMontaigne Partners L.P. and related stocks with our FREE daily email newsletter.