Tesoro Logistics LP (TLLP) Declares Quarterly Dividend of $0.94
Tesoro Logistics LP (NASDAQ:TLLP) announced a quarterly dividend on Thursday, April 20th. Stockholders of record on Friday, May 5th will be given a dividend of 0.94 per share by the oil and gas company on Monday, May 15th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date is Wednesday, May 3rd. This is a boost from Tesoro Logistics’s previous quarterly dividend of $0.91.
Tesoro Logistics (NASDAQ:TLLP) traded up 0.37% during mid-day trading on Thursday, hitting $54.29. The stock had a trading volume of 274,573 shares. The stock has a 50 day moving average of $54.23 and a 200-day moving average of $51.62. The firm has a market cap of $5.59 billion and a P/E ratio of 29.03. Tesoro Logistics has a 1-year low of $42.92 and a 1-year high of $60.14.
Tesoro Logistics (NASDAQ:TLLP) last posted its quarterly earnings results on Monday, February 6th. The oil and gas company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.25. The firm earned $319 million during the quarter, compared to the consensus estimate of $319.77 million. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. Analysts predict that Tesoro Logistics will post $2.95 EPS for the current fiscal year.
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A hedge fund recently raised its stake in Tesoro Logistics stock. State Street Corp boosted its position in Tesoro Logistics LP (NASDAQ:TLLP) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,468 shares of the oil and gas company’s stock after buying an additional 1,318 shares during the period. State Street Corp’s holdings in Tesoro Logistics were worth $481,000 as of its most recent filing with the SEC.
Several brokerages recently commented on TLLP. Zacks Investment Research raised Tesoro Logistics from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC dropped their price objective on Tesoro Logistics from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Wednesday. SunTrust Banks, Inc. began coverage on Tesoro Logistics in a research note on Monday, March 20th. They set a “buy” rating and a $62.00 price objective on the stock. Scotiabank set a $63.00 price objective on Tesoro Logistics and gave the stock a “buy” rating in a research note on Monday, February 6th. Finally, Morgan Stanley raised Tesoro Logistics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $59.00 in a research note on Friday, January 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Tesoro Logistics currently has a consensus rating of “Buy” and a consensus price target of $58.25.
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.
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