Spirit of America Management Corp NY increased its position in Tesoro Logistics LP (NASDAQ:TLLP) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,057 shares of the company’s stock after buying an additional 2,000 shares during the period. Tesoro Logistics makes up approximately 1.4% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 18th largest position. Spirit of America Management Corp NY’s holdings in Tesoro Logistics were worth $10,708,000 at the end of the most recent reporting period.
Separately, Creative Planning acquired a new stake in Tesoro Logistics during the third quarter worth about $121,000.
Shares of Tesoro Logistics LP (NASDAQ:TLLP) traded down 0.63% during midday trading on Friday, hitting $46.11. 602,388 shares of the stock traded hands. The company’s 50 day moving average price is $47.24 and its 200-day moving average price is $47.22. Tesoro Logistics LP has a 12-month low of $35.18 and a 12-month high of $56.92. The stock has a market cap of $4.66 billion and a price-to-earnings ratio of 20.70.
Tesoro Logistics (NASDAQ:TLLP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.12. The business had revenue of $293 million for the quarter, compared to the consensus estimate of $275 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Tesoro Logistics LP will post $2.63 EPS for the current year.
Several brokerages have recently weighed in on TLLP. Mizuho began coverage on shares of Tesoro Logistics in a research note on Thursday, September 29th. They issued a “buy” rating and a $58.00 target price on the stock. Deutsche Bank AG set a $54.00 target price on shares of Tesoro Logistics and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research downgraded shares of Tesoro Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Jefferies Group began coverage on shares of Tesoro Logistics in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $49.00 target price on the stock.
In other Tesoro Logistics news, CFO Steven Sterin bought 1,600 shares of the stock in a transaction on Friday, August 26th. The shares were bought at an average price of $47.34 per share, with a total value of $75,744.00. Following the purchase, the chief financial officer now directly owns 2,514 shares in the company, valued at approximately $119,012.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
About Tesoro Logistics
Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.
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