TransMontaigne Partners L.P. (TLP) Downgraded to Hold at Zacks Investment Research
TransMontaigne Partners L.P. (NYSE:TLP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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 analysts also recently issued reports on the stock. BidaskClub upgraded shares of TransMontaigne Partners L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. DA Davidson upgraded shares of TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $51.00 in a report on Thursday, June 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of TransMontaigne Partners L.P. in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $50.25.
TransMontaigne Partners L.P. (NYSE:TLP) traded up 0.557% on Wednesday, reaching $43.652. 2,770 shares of the company’s stock traded hands. The firm has a market cap of $705.46 million, a price-to-earnings ratio of 17.118 and a beta of 0.29. TransMontaigne Partners L.P. has a 52-week low of $36.93 and a 52-week high of $49.31. The stock’s 50 day moving average is $43.69 and its 200 day moving average is $43.48.
TransMontaigne Partners L.P. (NYSE:TLP) last announced its earnings results on Tuesday, August 8th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. The firm had revenue of $45.40 million for the quarter, compared to the consensus estimate of $45.64 million. TransMontaigne Partners L.P. had a net margin of 28.78% and a return on equity of 13.38%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. On average, equities research analysts predict that TransMontaigne Partners L.P. will post $2.74 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC raised its holdings in shares of TransMontaigne Partners L.P. by 1,058.0% in the second quarter. Archford Capital Strategies LLC now owns 2,895 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 2,645 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of TransMontaigne Partners L.P. in the second quarter valued at approximately $154,000. CNH Partners LLC raised its holdings in shares of TransMontaigne Partners L.P. by 0.5% in the second quarter. CNH Partners LLC now owns 20,221 shares of the pipeline company’s stock valued at $849,000 after purchasing an additional 100 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of TransMontaigne Partners L.P. by 29.7% in the second quarter. Goldman Sachs Group Inc. now owns 697,928 shares of the pipeline company’s stock valued at $29,313,000 after purchasing an additional 159,993 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of TransMontaigne Partners L.P. by 0.9% in the second quarter. Stifel Financial Corp now owns 18,676 shares of the pipeline company’s stock valued at $781,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 62.31% of the company’s stock.
About TransMontaigne Partners L.P.
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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