Inspirion Wealth Advisors LLC lowered its position in shares of TransMontaigne Partners L.P. (NYSE:TLP) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 33,789 shares of the pipeline company’s stock after selling 1,452 shares during the period. TransMontaigne Partners L.P. comprises about 0.9% of Inspirion Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Inspirion Wealth Advisors LLC’s holdings in TransMontaigne Partners L.P. were worth $1,510,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. First Eagle Investment Management LLC boosted its stake in shares of TransMontaigne Partners L.P. by 10.3% in the first quarter. First Eagle Investment Management LLC now owns 669,703 shares of the pipeline company’s stock worth $29,922,000 after buying an additional 62,500 shares during the last quarter. Energy Income Partners LLC purchased a new position in TransMontaigne Partners L.P. during the fourth quarter worth approximately $23,494,000. UBS Group AG raised its position in TransMontaigne Partners L.P. by 10.2% in the third quarter. UBS Group AG now owns 227,704 shares of the pipeline company’s stock worth $9,395,000 after buying an additional 21,041 shares during the period. First Trust Advisors LP raised its position in TransMontaigne Partners L.P. by 13.0% in the first quarter. First Trust Advisors LP now owns 204,474 shares of the pipeline company’s stock worth $9,136,000 after buying an additional 23,560 shares during the period. Finally, Bank of New York Mellon Corp raised its position in TransMontaigne Partners L.P. by 10.7% in the first quarter. Bank of New York Mellon Corp now owns 87,090 shares of the pipeline company’s stock worth $3,891,000 after buying an additional 8,396 shares during the period. 61.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of TransMontaigne Partners L.P. (NYSE:TLP) traded up 2.58% on Friday, reaching $43.02. 16,350 shares of the company traded hands. The stock has a 50-day moving average price of $43.79 and a 200 day moving average price of $43.99. TransMontaigne Partners L.P. has a 1-year low of $36.93 and a 1-year high of $49.31. The firm has a market capitalization of $695.25 million, a P/E ratio of 18.31 and a beta of 0.40.
TransMontaigne Partners L.P. (NYSE:TLP) last posted its earnings results on Tuesday, May 9th. The pipeline company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The company had revenue of $44.85 million for the quarter, compared to analysts’ expectations of $43.35 million. TransMontaigne Partners L.P. had a net margin of 23.52% and a return on equity of 10.16%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. Analysts anticipate that TransMontaigne Partners L.P. will post $2.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 8th. Investors of record on Friday, April 28th were paid a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a yield of 6.91%. This is a boost from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.71. The ex-dividend date was Wednesday, April 26th. TransMontaigne Partners L.P.’s dividend payout ratio (DPR) is presently 135.89%.
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TLP has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered shares of TransMontaigne Partners L.P. from a “buy” rating to a “hold” rating and boosted their price target for the company from $47.00 to $50.00 in a research report on Wednesday, March 15th. FBR & Co restated a “buy” rating and set a $49.00 price target on shares of TransMontaigne Partners L.P. in a research report on Wednesday, March 15th. Finally, Zacks Investment Research upgraded shares of TransMontaigne Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research report on Saturday, May 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.30.
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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