Zacks Investment Research Upgrades TransMontaigne Partners L.P. (NYSE:TLP) to Buy
TransMontaigne Partners L.P. (NYSE:TLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $49.00 target price on the pipeline company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.85% from the stock’s current price.
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. “
A number of other research analysts have also weighed in on TLP. Stifel Nicolaus reissued a “hold” rating on shares of TransMontaigne Partners L.P. in a research report on Wednesday, April 12th. They noted that the move was a valuation call. DA Davidson raised shares of TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $51.00 in a research report on Thursday, June 15th. Finally, BidaskClub upgraded shares of TransMontaigne Partners L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. TransMontaigne Partners L.P. has an average rating of “Buy” and an average price target of $49.60.
TransMontaigne Partners L.P. (TLP) opened at 43.81 on Thursday. The company has a market capitalization of $708.01 million, a PE ratio of 18.64 and a beta of 0.30. 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 $43.80 and its 200-day moving average is $44.22.
TransMontaigne Partners L.P. (NYSE:TLP) last released its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. TransMontaigne Partners L.P. had a net margin of 28.78% and a return on equity of 13.39%. The company had revenue of $45.40 million for the quarter, compared to analyst estimates of $45.64 million. During the same period last year, the firm earned $0.50 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. On average, analysts expect that TransMontaigne Partners L.P. will post $2.65 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of TLP. Blair William & Co. IL increased its stake in TransMontaigne Partners L.P. by 1.2% in the first quarter. Blair William & Co. IL now owns 9,410 shares of the pipeline company’s stock worth $420,000 after buying an additional 116 shares during the period. Stifel Financial Corp increased its stake in TransMontaigne Partners L.P. by 196.3% in the first quarter. Stifel Financial Corp now owns 18,518 shares of the pipeline company’s stock worth $827,000 after buying an additional 12,269 shares during the period. Tiedemann Wealth Management LLC bought a new stake in TransMontaigne Partners L.P. during the first quarter worth about $1,261,000. Catalyst Capital Advisors LLC bought a new stake in TransMontaigne Partners L.P. during the first quarter worth about $545,000. Finally, First Eagle Investment Management LLC increased its stake in TransMontaigne Partners L.P. by 10.3% in the first quarter. First Eagle Investment Management LLC now owns 669,703 shares of the pipeline company’s stock worth $29,922,000 after buying an additional 62,500 shares during the period. Institutional investors and hedge funds own 61.64% of the company’s stock.
TransMontaigne Partners L.P. Company Profile
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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