Zacks Investment Research reaffirmed their hold rating on shares of TransMontaigne Partners (NYSE:TLP) in a report published on Saturday morning.
According to Zacks, “TransMontaigne Partners L.P. is a refined petroleum products terminaling and pipeline company based in Denver, Colorado with operations currently in Florida, Southwest Missouri and Northwest Arkansas. They provide integrated terminaling, storage, pipeline and related services for companies engaged in the distribution and marketing of refined petroleum products and crude oil, including TransMontaigne Inc. “
Several other brokerages have also weighed in on TLP. UBS Group dropped their price objective on shares of TransMontaigne Partners from $57.00 to $55.00 and set a buy rating on the stock in a research report on Friday, August 10th. Wells Fargo & Co dropped their price objective on shares of TransMontaigne Partners from $41.00 to $38.00 and set a market perform rating on the stock in a research report on Tuesday, August 14th. Finally, TheStreet lowered shares of TransMontaigne Partners from a b rating to a c+ rating in a research report on Wednesday, September 5th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. TransMontaigne Partners has a consensus rating of Hold and a consensus price target of $44.00.
NYSE TLP opened at $37.12 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.60 and a current ratio of 0.60. TransMontaigne Partners has a 1 year low of $33.97 and a 1 year high of $42.85. The firm has a market cap of $602.59 million, a price-to-earnings ratio of 16.87, a PEG ratio of 4.23 and a beta of 0.18.
TransMontaigne Partners (NYSE:TLP) last issued its quarterly earnings data on Thursday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). The company had revenue of $57.15 million during the quarter, compared to the consensus estimate of $58.11 million. TransMontaigne Partners had a net margin of 18.07% and a return on equity of 10.94%. Equities research analysts anticipate that TransMontaigne Partners will post 1.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st were given a $0.805 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This is a positive change from TransMontaigne Partners’s previous quarterly dividend of $0.80. This represents a $3.22 annualized dividend and a dividend yield of 8.67%. TransMontaigne Partners’s dividend payout ratio is presently 146.36%.
Several institutional investors and hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of TransMontaigne Partners by 3.1% in the second quarter. OppenheimerFunds Inc. now owns 2,407,221 shares of the pipeline company’s stock valued at $88,682,000 after purchasing an additional 72,290 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TransMontaigne Partners in the third quarter valued at about $8,443,000. JPMorgan Chase & Co. raised its position in shares of TransMontaigne Partners by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 189,387 shares of the pipeline company’s stock valued at $7,292,000 after purchasing an additional 24,977 shares during the period. First Trust Advisors LP raised its position in shares of TransMontaigne Partners by 6.2% in the third quarter. First Trust Advisors LP now owns 139,442 shares of the pipeline company’s stock valued at $5,369,000 after purchasing an additional 8,152 shares during the period. Finally, Mondrian Investment Partners LTD raised its position in shares of TransMontaigne Partners by 11.2% in the second quarter. Mondrian Investment Partners LTD now owns 117,331 shares of the pipeline company’s stock valued at $4,322,000 after purchasing an additional 11,801 shares during the period. 63.25% of the stock is currently owned by institutional investors.
TransMontaigne Partners Company Profile
TransMontaigne Partners L.P. provides integrated terminaling, storage, transportation, and related services. The company operates through Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals, Southeast terminals, and West Coast terminals segments. It offers its services for companies engaged in the trading, distribution, and marketing of light and heavy refined petroleum products, crude oil, chemicals, fertilizers, and other liquid products.
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