Tesoro Logistics LP (TLLP) to Post FY2017 Earnings of $2.41 Per Share, Jefferies Group Forecasts
Tesoro Logistics LP (NASDAQ:TLLP) – Equities research analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Tesoro Logistics in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Goldman now forecasts that the firm will earn $2.41 per share for the year, down from their prior estimate of $2.42. Jefferies Group currently has a “Hold” rating and a $49.00 target price on the stock.
A number of other brokerages have also recently issued reports on TLLP. Deutsche Bank AG set a $54.00 target price on shares of Tesoro Logistics and gave the stock a “buy” rating in a report on Monday, October 10th. Zacks Investment Research cut shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Mizuho initiated coverage on shares of Tesoro Logistics in a report on Thursday, September 29th. They issued a “buy” rating and a $58.00 target price on the stock.
Shares of Tesoro Logistics (NASDAQ:TLLP) traded down 0.63% during midday trading on Friday, hitting $46.11. The stock had a trading volume of 602,388 shares. The firm has a 50 day moving average of $47.21 and a 200-day moving average of $47.24. Tesoro Logistics has a one year low of $35.18 and a one year high of $56.92. The company has a market cap of $4.66 billion and a P/E ratio of 20.70.
Tesoro Logistics (NASDAQ:TLLP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The firm earned $293 million during the quarter, compared to analyst estimates of $275 million. Tesoro Logistics’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share.
In other news, CFO Steven Sterin purchased 1,600 shares of the company’s stock in a transaction on Friday, August 26th. The shares were bought at an average price of $47.34 per share, for a total transaction of $75,744.00. Following the completion of the purchase, the chief financial officer now owns 2,514 shares of the company’s stock, valued at $119,012.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Several large investors have recently made changes to their positions in TLLP. Spirit of America Management Corp NY raised its stake in shares of Tesoro Logistics by 0.9% in the third quarter. Spirit of America Management Corp NY now owns 221,057 shares of the company’s stock valued at $10,708,000 after buying an additional 2,000 shares during the last quarter. Advisor Consultant Network Inc. purchased a new stake in shares of Tesoro Logistics during the third quarter valued at approximately $487,000. Finally, Creative Planning purchased a new stake in shares of Tesoro Logistics during the third quarter valued at approximately $121,000.
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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