Shares of TransMontaigne Partners L.P. (NYSE:TLP) rose 3.3% during mid-day trading on Tuesday after the company announced a dividend. The company 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. Stockholders of record on Monday, October 31st will be issued a dividend of $0.70 per share. 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 dividend yield of 6.63%. The ex-dividend date is Thursday, October 27th.
TLP has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of TransMontaigne Partners L.P. from $45.00 to $47.00 and gave the stock a “buy” rating in a report 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 report on Wednesday, July 6th. Mitsubishi UFJ Financial Group initiated coverage on shares of TransMontaigne Partners L.P. in a report on Thursday, September 1st. They issued a “neutral” rating and a $47.00 price target on the stock. DA Davidson initiated coverage on shares of TransMontaigne Partners L.P. in a report on Thursday, August 18th. They issued a “neutral” rating and a $42.50 price target on the stock. Finally, FBR & Co initiated coverage on shares of TransMontaigne Partners L.P. in a report on Friday, September 9th. They issued an “outperform” rating and a $49.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. TransMontaigne Partners L.P. presently has a consensus rating of “Buy” and a consensus price target of $46.38.
The firm has a 50-day moving average price of $41.78 and a 200 day moving average price of $40.76. The company has a market cap of $681.09 million, a PE ratio of 22.52 and a beta of 0.48.
TransMontaigne Partners L.P. (NYSE:TLP) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company earned $41.14 million during the quarter, compared to the consensus estimate of $39.80 million. During the same quarter last year, the company earned $0.64 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that TransMontaigne Partners L.P. will post $1.90 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. acquired a new position in TransMontaigne Partners L.P. during the third quarter worth approximately $207,000. Cypress Wealth Advisors LLC acquired a new position in TransMontaigne Partners L.P. during the first quarter worth approximately $253,000. JPMorgan Chase & Co. raised its position in TransMontaigne Partners L.P. by 304.7% in the second quarter. JPMorgan Chase & Co. now owns 6,228 shares of the company’s stock worth $256,000 after buying an additional 4,689 shares in the last quarter. Commonwealth Equity Services Inc raised its position in TransMontaigne Partners L.P. by 1.5% in the second quarter. Commonwealth Equity Services Inc now owns 6,872 shares of the company’s stock worth $282,000 after buying an additional 102 shares in the last quarter. Finally, Creative Planning raised its position in TransMontaigne Partners L.P. by 14.8% in the third quarter. Creative Planning now owns 8,899 shares of the company’s stock worth $367,000 after buying an additional 1,150 shares in 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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