Glenmede Trust Co. NA held its position in shares of TransMontaigne Partners L.P. (NYSE:TLP) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,130 shares of the pipeline company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in TransMontaigne Partners L.P. were worth $138,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning increased its position in shares of TransMontaigne Partners L.P. by 4.9% in the first quarter. Creative Planning now owns 8,635 shares of the pipeline company’s stock valued at $386,000 after buying an additional 400 shares during the period. Cypress Capital Management LLC WY increased its position in shares of TransMontaigne Partners L.P. by 17.3% in the first quarter. Cypress Capital Management LLC WY now owns 4,750 shares of the pipeline company’s stock valued at $212,000 after buying an additional 700 shares during the period. Naples Global Advisors LLC increased its position in shares of TransMontaigne Partners L.P. by 51.4% in the first quarter. Naples Global Advisors LLC now owns 7,875 shares of the pipeline company’s stock valued at $352,000 after buying an additional 2,675 shares during the period. Advocacy Wealth Management Services LLC increased its position in shares of TransMontaigne Partners L.P. by 109.1% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,300 shares of the pipeline company’s stock valued at $103,000 after buying an additional 1,200 shares during the period. Finally, Shell Asset Management Co. purchased a new position in shares of TransMontaigne Partners L.P. during the first quarter valued at $779,000. Institutional investors and hedge funds own 61.72% of the company’s stock.
TransMontaigne Partners L.P. (NYSE TLP) opened at 44.99 on Thursday. TransMontaigne Partners L.P. has a 52 week low of $36.93 and a 52 week high of $49.31. The stock has a market capitalization of $727.08 million, a P/E ratio of 19.14 and a beta of 0.29. The stock has a 50 day moving average of $42.12 and a 200 day moving average of $44.14.
TransMontaigne Partners L.P. (NYSE:TLP) last announced its earnings results on Tuesday, May 9th. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.02. TransMontaigne Partners L.P. had a return on equity of 11.66% and a net margin of 25.71%. The company had revenue of $44.85 million for the quarter, compared to the consensus estimate of $43.35 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that TransMontaigne Partners L.P. will post $2.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 8th. Investors of record on Monday, July 31st will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.96 dividend on an annualized basis and a yield of 6.58%. This is a positive change from TransMontaigne Partners L.P.’s previous quarterly dividend of $0.73. TransMontaigne Partners L.P.’s payout ratio is 123.40%.
Several research analysts have recently weighed in on TLP shares. Stifel Nicolaus restated a “hold” rating on shares of TransMontaigne Partners L.P. in a research note on Wednesday, April 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of TransMontaigne Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research note on Saturday, May 13th. Finally, DA Davidson upgraded shares of TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and upped their target price for the company from $48.00 to $51.00 in a research note on Thursday, June 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TransMontaigne Partners L.P. has a consensus rating of “Buy” and an average price target of $49.00.
TransMontaigne Partners L.P. 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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