Bank of New York Mellon Corp Has $761,000 Stake in Tesoro Logistics LP (TLLP)

Bank of New York Mellon Corp boosted its stake in Tesoro Logistics LP (NASDAQ:TLLP) by 0.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,974 shares of the oil and gas company’s stock after buying an additional 6 shares during the period. Bank of New York Mellon Corp’s holdings in Tesoro Logistics were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Securities LLC purchased a new position in Tesoro Logistics during the first quarter valued at approximately $376,000. Spirit of America Management Corp NY boosted its position in Tesoro Logistics by 26.6% in the first quarter. Spirit of America Management Corp NY now owns 292,207 shares of the oil and gas company’s stock valued at $15,917,000 after buying an additional 61,450 shares during the period. Virtu Financial LLC boosted its position in shares of Tesoro Logistics by 83.6% in the first quarter. Virtu Financial LLC now owns 14,347 shares of the oil and gas company’s stock valued at $781,000 after buying an additional 6,534 shares during the last quarter. FTB Advisors Inc. boosted its position in shares of Tesoro Logistics by 78.3% in the first quarter. FTB Advisors Inc. now owns 1,849 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 812 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Tesoro Logistics during the first quarter valued at about $3,186,000.

Shares of Tesoro Logistics LP (NASDAQ:TLLP) opened at 52.13 on Wednesday. Tesoro Logistics LP has a 52-week low of $43.00 and a 52-week high of $60.14. The company has a 50-day moving average of $50.88 and a 200 day moving average of $53.77. The stock has a market cap of $5.63 billion and a P/E ratio of 29.72.

Tesoro Logistics (NASDAQ:TLLP) last released its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by $0.12. Tesoro Logistics had a return on equity of 12.69% and a net margin of 21.90%. The company had revenue of $420 million for the quarter, compared to analyst estimates of $348.74 million. During the same period in the previous year, the business posted $1.19 EPS. The firm’s quarterly revenue was up 40.0% compared to the same quarter last year. Equities research analysts forecast that Tesoro Logistics LP will post $2.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be given a dividend of $0.971 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.45%. This is an increase from Tesoro Logistics’s previous quarterly dividend of $0.94.

Several research analysts have recently issued reports on TLLP shares. Zacks Investment Research upgraded shares of Tesoro Logistics from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, July 13th. BidaskClub upgraded shares of Tesoro Logistics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Scotiabank set a $63.00 target price on shares of Tesoro Logistics and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Barclays PLC restated an “overweight” rating and issued a $65.00 target price on shares of Tesoro Logistics in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Tesoro Logistics presently has a consensus rating of “Buy” and a consensus target price of $59.33.

About Tesoro Logistics

Tesoro Logistics LP is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.