Stifel Released ” Hold” Rating on TransMontaigne Partners L.P. (TLP)

TransMontaigne Partners L.P. (TLP) was Downgraded by Stifel to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $47 . Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Company shares were Downgraded by Stifel on Mar 15, 2017 to ” Hold”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .

On the company’s financial health, TransMontaigne Partners L.P. reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Mar 14, 2017. Analyst had a consensus of $0.56. The company had revenue of $42.50 million for the quarter, compared to analysts expectations of $41.41 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

TransMontaigne Partners L.P. closed down -0.28 points or -0.58% at $47.99 with 65,004 shares getting traded on Wednesday. Post opening the session at $47.1, the shares hit an intraday low of $46.75 and an intraday high of $48.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

TransMontaigne Partners L.P. (TransMontaigne Partners) is a terminalling and transportation company with operations in the United States along the Gulf Coast in the Midwest in Brownsville Texas along the Mississippi and Ohio Rivers and in the Southeast. It provides integrated terminalling storage and transportation for customers engaged in the distribution and marketing of light refined petroleum products heavy refined petroleum products crude oil chemicals fertilizers and other liquid products. Light refined products include gasolines diesel fuels heating oil and jet fuels. Heavy refined products include residual fuel oils and asphalt. The Company’s business segments include Gulf Coast terminals Midwest terminals and pipeline system Brownsville terminals River terminals and Southeast terminals.

TransMontaigne Partners L.P.

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