TransMontaigne Partners L.P. (TLP) to Issue Quarterly Dividend of $0.70
TransMontaigne Partners L.P. (NYSE:TLP) declared a quarterly dividend on Tuesday, October 18th. Shareholders of record on Monday, October 31st will be paid a dividend of 0.70 per share on Monday, November 7th. This represents a $2.80 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Thursday, October 27th. This is an increase from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.69.
Shares of TransMontaigne Partners L.P. (NYSE:TLP) traded up 4.45% on Tuesday, hitting $42.22. The company’s stock had a trading volume of 86,518 shares. The firm has a market cap of $681.09 million, a PE ratio of 22.52 and a beta of 0.48. TransMontaigne Partners L.P. has a 1-year low of $20.26 and a 1-year high of $46.45. The company has a 50 day moving average of $41.82 and a 200 day moving average of $40.71.
TransMontaigne Partners L.P. (NYSE:TLP) last issued its earnings results on Tuesday, August 9th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company earned $41.14 million during the quarter, compared to analysts’ expectations of $39.80 million. During the same period in the previous year, the company earned $0.64 EPS. TransMontaigne Partners L.P.’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that TransMontaigne Partners L.P. will post $1.90 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of TransMontaigne Partners L.P. by 304.7% in the second quarter. JPMorgan Chase & Co. now owns 6,228 shares of the company’s stock valued at $256,000 after buying an additional 4,689 shares during the last quarter. Fic Capital Inc. boosted its stake in shares of TransMontaigne Partners L.P. by 4.5% in the second quarter. Fic Capital Inc. now owns 64,192 shares of the company’s stock valued at $2,638,000 after buying an additional 2,737 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of TransMontaigne Partners L.P. by 2.8% in the second quarter. Guggenheim Capital LLC now owns 84,948 shares of the company’s stock valued at $3,491,000 after buying an additional 2,333 shares during the last quarter.
TLP has been the topic of several recent analyst reports. Zacks Investment Research upgraded TransMontaigne Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Stifel Nicolaus boosted their price target on TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. DA Davidson initiated coverage on TransMontaigne Partners L.P. in a research note on Thursday, August 18th. They issued a “neutral” rating and a $42.50 price target on the stock. Mitsubishi UFJ Financial Group initiated coverage on TransMontaigne Partners L.P. in a research note on Thursday, September 1st. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, FBR & Co initiated coverage on TransMontaigne Partners L.P. in a research note on Friday, September 9th. They issued an “outperform” rating and a $49.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.38.
About TransMontaigne Partners L.P.
TransMontaigne Partners L.P. (TransMontaigne Partners) is a terminaling and transportation company with operations in the United States along the Gulf Coast, in the Midwest, in Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. Its segments are Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals and Southeast terminals.
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