Zacks Investment Research Downgrades TransMontaigne Partners L.P. (TLP) to Hold

TransMontaigne Partners L.P. (NYSE:TLP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “TransMontaigne Partners L.P. is a refined petroleum products terminaling and pipeline company based in Denver, Colorado with operations currently in Florida, Southwest Missouri and Northwest Arkansas. They provide integrated terminaling, storage, pipeline and related services for companies engaged in the distribution and marketing of refined petroleum products and crude oil, including TransMontaigne Inc. “

TLP has been the topic of several other reports. BidaskClub downgraded TransMontaigne Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. DA Davidson upgraded TransMontaigne Partners L.P. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $51.00 in a research report on Thursday, June 15th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $52.00 price objective on shares of TransMontaigne Partners L.P. in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.25.

TransMontaigne Partners L.P. (NYSE:TLP) last issued its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.04. TransMontaigne Partners L.P. had a return on equity of 13.38% and a net margin of 28.78%. The business had revenue of $45.40 million for the quarter, compared to the consensus estimate of $45.64 million. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis.

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Several large investors have recently modified their holdings of the company. Archford Capital Strategies LLC lifted its position in shares of TransMontaigne Partners L.P. by 1,058.0% in the second quarter. Archford Capital Strategies LLC now owns 2,895 shares of the pipeline company’s stock valued at $237,000 after acquiring an additional 2,645 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of TransMontaigne Partners L.P. in the second quarter valued at $154,000. CNH Partners LLC lifted its position in shares of TransMontaigne Partners L.P. by 0.5% in the second quarter. CNH Partners LLC now owns 20,221 shares of the pipeline company’s stock valued at $849,000 after acquiring an additional 100 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of TransMontaigne Partners L.P. by 29.7% in the second quarter. Goldman Sachs Group Inc. now owns 697,928 shares of the pipeline company’s stock valued at $29,313,000 after acquiring an additional 159,993 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of TransMontaigne Partners L.P. by 0.9% in the second quarter. Stifel Financial Corp now owns 18,676 shares of the pipeline company’s stock valued at $781,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 62.31% of the company’s stock.

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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