GSA Capital Partners LLP Takes $244,000 Position in TransMontaigne Partners L.P. (TLP)
GSA Capital Partners LLP bought a new position in TransMontaigne Partners L.P. (NYSE:TLP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,818 shares of the pipeline company’s stock, valued at approximately $244,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in TransMontaigne Partners L.P. by 375.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,800 shares of the pipeline company’s stock worth $170,000 after purchasing an additional 3,000 shares during the period. Naples Global Advisors LLC raised its holdings in TransMontaigne Partners L.P. by 1.9% in the second quarter. Naples Global Advisors LLC now owns 8,025 shares of the pipeline company’s stock worth $337,000 after purchasing an additional 150 shares during the period. Blair William & Co. IL raised its holdings in TransMontaigne Partners L.P. by 0.4% in the second quarter. Blair William & Co. IL now owns 9,444 shares of the pipeline company’s stock worth $397,000 after purchasing an additional 34 shares during the period. Principal Financial Group Inc. acquired a new stake in TransMontaigne Partners L.P. in the second quarter worth $576,000. Finally, KCG Holdings Inc. acquired a new stake in TransMontaigne Partners L.P. in the first quarter worth $636,000. Institutional investors own 62.31% of the company’s stock.
Several equities research analysts have weighed in on TLP shares. Stifel Nicolaus set a $50.00 target price on shares of TransMontaigne Partners L.P. and gave the stock a “buy” rating in a report on Saturday, June 24th. BidaskClub upgraded shares of TransMontaigne Partners L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of TransMontaigne Partners L.P. from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.25.
Shares of TransMontaigne Partners L.P. (TLP) opened at 41.55 on Friday. TransMontaigne Partners L.P. has a 12 month low of $36.93 and a 12 month high of $49.31. The stock’s 50 day moving average is $43.41 and its 200 day moving average is $43.38. The company has a market cap of $671.49 million, a P/E ratio of 16.29 and a beta of 0.29.
TransMontaigne Partners L.P. (NYSE:TLP) last issued its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.04. TransMontaigne Partners L.P. had a net margin of 28.78% and a return on equity of 13.38%. The firm had revenue of $45.40 million for the quarter, compared to the consensus estimate of $45.64 million. During the same quarter in the previous year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that TransMontaigne Partners L.P. will post $2.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 23rd will be given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Friday, October 20th. This is an increase from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.74. TransMontaigne Partners L.P.’s payout ratio is presently 116.08%.
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.
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