TransMontaigne Partners L.P. (TLP) Trading Up 3.3% After Dividend Announcement
Shares of TransMontaigne Partners L.P. (NYSE:TLP) were up 3.3% during trading on Tuesday after the company announced a dividend. The stock traded as high as $41.99 and last traded at $41.75, with a volume of 74,775 shares changing hands. The stock had previously closed at $40.42.
The newly announced dividend which will be paid on Monday, November 7th. Shareholders of record on Monday, October 31st will be paid a $0.70 dividend. This is a positive change from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 6.63%. The ex-dividend date is Thursday, October 27th.
Several equities analysts have commented on TLP shares. Stifel Nicolaus increased their price target on shares of TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Zacks Investment Research upgraded shares of TransMontaigne Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Mitsubishi UFJ Financial Group started coverage on shares of 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. DA Davidson started coverage on shares of 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. Finally, FBR & Co started coverage on shares of 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.38.
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The company has a market cap of $681.09 million, a PE ratio of 22.52 and a beta of 0.48. The company has a 50-day moving average of $41.78 and a 200-day moving average of $40.76.
TransMontaigne Partners L.P. (NYSE:TLP) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $41.14 million for the quarter, compared to analyst estimates of $39.80 million. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. On average, equities research analysts predict that TransMontaigne Partners L.P. will post $1.90 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cypress Wealth Advisors LLC acquired a new stake in shares of TransMontaigne Partners L.P. during the first quarter valued at $253,000. State Street Corp increased its stake in shares of TransMontaigne Partners L.P. by 3.9% in the first quarter. State Street Corp now owns 10,717 shares of the company’s stock valued at $393,000 after buying an additional 402 shares during the last quarter. UBS Group AG increased its stake in shares of TransMontaigne Partners L.P. by 272.8% in the first quarter. UBS Group AG now owns 209,343 shares of the company’s stock valued at $7,673,000 after buying an additional 153,184 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of TransMontaigne Partners L.P. during the first quarter valued at $473,000. Finally, Bank of New York Mellon Corp increased its stake in shares of TransMontaigne Partners L.P. by 459.3% in the second quarter. Bank of New York Mellon Corp now owns 49,153 shares of the company’s stock valued at $2,019,000 after buying an additional 40,365 shares during the last quarter.
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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