Goldman Sachs Group Inc. lowered its position in TransMontaigne Partners L.P. (NYSE:TLP) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,935 shares of the pipeline company’s stock after selling 48,274 shares during the period. Goldman Sachs Group Inc. owned about 3.33% of TransMontaigne Partners L.P. worth $24,035,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL increased its position in TransMontaigne Partners L.P. by 1.2% in the first quarter. Blair William & Co. IL now owns 9,410 shares of the pipeline company’s stock worth $420,000 after buying an additional 116 shares during the period. Stifel Financial Corp increased its position in TransMontaigne Partners L.P. by 196.3% in the first quarter. Stifel Financial Corp now owns 18,518 shares of the pipeline company’s stock worth $827,000 after buying an additional 12,269 shares during the last quarter. Tiedemann Wealth Management LLC acquired a new position in TransMontaigne Partners L.P. during the first quarter worth about $1,261,000. Catalyst Capital Advisors LLC acquired a new position in TransMontaigne Partners L.P. during the first quarter worth about $545,000. Finally, First Eagle Investment Management LLC increased its position in 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. 61.72% of the stock is currently owned by institutional investors and hedge funds.
TransMontaigne Partners L.P. (NYSE:TLP) traded up 2.44% during trading on Friday, hitting $46.14. 46,774 shares of the stock were exchanged. The stock has a market cap of $745.67 million, a price-to-earnings ratio of 19.63 and a beta of 0.29. The firm’s 50 day moving average price is $42.22 and its 200-day moving average price is $44.14. TransMontaigne Partners L.P. has a 1-year low of $36.93 and a 1-year high of $49.31.
TransMontaigne Partners L.P. (NYSE:TLP) last issued its quarterly earnings data 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. 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 in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that TransMontaigne Partners L.P. will post $2.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 8th. Shareholders of record on Monday, July 31st will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Thursday, July 27th. 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%.
A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $50.00 price objective on shares of TransMontaigne Partners L.P. and gave the stock a “buy” rating in a report on Saturday, June 24th. DA Davidson raised shares of TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $51.00 in a report on Thursday, June 15th. Finally, Zacks Investment Research cut shares of TransMontaigne Partners L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. TransMontaigne Partners L.P. has an average rating of “Buy” and a consensus 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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