Brokerages expect TransMontaigne Partners L.P. (NYSE:TLP) to announce sales of $45.09 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for TransMontaigne Partners’ earnings, with the highest sales estimate coming in at $45.90 million and the lowest estimate coming in at $44.00 million. TransMontaigne Partners reported sales of $42.52 million in the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is expected to report its next earnings report on Tuesday, March 13th.
On average, analysts expect that TransMontaigne Partners will report full-year sales of $45.09 million for the current financial year, with estimates ranging from $179.00 million to $181.60 million. For the next financial year, analysts forecast that the firm will post sales of $198.40 million per share, with estimates ranging from $178.00 million to $229.89 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for TransMontaigne Partners.
Several brokerages have commented on TLP. Zacks Investment Research raised shares of TransMontaigne Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Co began coverage on shares of TransMontaigne Partners in a research report on Thursday, November 30th. They issued a “market perform” rating and a $44.00 price objective on the stock. UBS Group lifted their price objective on shares of TransMontaigne Partners from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Finally, B. Riley set a $45.00 price objective on shares of TransMontaigne Partners and gave the stock a “neutral” rating in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Wednesday, January 31st were paid a $0.77 dividend. This is an increase from TransMontaigne Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $3.08 annualized dividend and a dividend yield of 7.75%. TransMontaigne Partners’s dividend payout ratio (DPR) is presently 126.23%.
In other TransMontaigne Partners news, Director Steven A. Blank bought 1,000 shares of TransMontaigne Partners stock in a transaction dated Friday, November 17th. The stock was purchased at an average price of $39.56 per share, for a total transaction of $39,560.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Archford Capital Strategies LLC increased its stake in shares of TransMontaigne Partners by 1,058.0% in the second quarter. Archford Capital Strategies LLC now owns 2,895 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 2,645 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of TransMontaigne Partners in the second quarter worth about $244,000. Stifel Financial Corp increased its stake in shares of TransMontaigne Partners by 0.9% in the second quarter. Stifel Financial Corp now owns 18,676 shares of the pipeline company’s stock worth $781,000 after purchasing an additional 158 shares in the last quarter. Searle & CO. increased its stake in shares of TransMontaigne Partners by 7.6% in the fourth quarter. Searle & CO. now owns 19,855 shares of the pipeline company’s stock worth $783,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Tiedemann Wealth Management LLC increased its stake in shares of TransMontaigne Partners by 5.6% in the third quarter. Tiedemann Wealth Management LLC now owns 29,800 shares of the pipeline company’s stock worth $1,272,000 after purchasing an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.
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TransMontaigne Partners 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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