Tesoro Logistics LP (TLLP) Rating Lowered to Buy at BidaskClub
BidaskClub lowered shares of Tesoro Logistics LP (NASDAQ:TLLP) from a strong-buy rating to a buy rating in a research note published on Thursday morning.
Several other brokerages have also recently weighed in on TLLP. Scotiabank reiterated a buy rating and set a $63.00 price target on shares of Tesoro Logistics in a research report on Thursday, April 27th. Zacks Investment Research cut Tesoro Logistics from a hold rating to a sell rating in a research report on Thursday, April 27th. Jefferies Group LLC decreased their price target on Tesoro Logistics from $53.00 to $52.00 and set a hold rating on the stock in a research report on Wednesday, April 19th. Barclays PLC reiterated an overweight rating and set a $65.00 price target on shares of Tesoro Logistics in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a buy rating and set a $64.00 price target on shares of Tesoro Logistics in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $59.33.
Shares of Tesoro Logistics (NASDAQ TLLP) opened at 52.00 on Thursday. Tesoro Logistics has a 52 week low of $43.00 and a 52 week high of $60.14. The firm has a market capitalization of $5.62 billion and a P/E ratio of 29.65. The firm’s 50-day moving average is $50.84 and its 200-day moving average is $53.78.
Tesoro Logistics (NASDAQ:TLLP) last announced its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.12. Tesoro Logistics had a net margin of 21.90% and a return on equity of 12.69%. The company had revenue of $420 million for the quarter, compared to the consensus estimate of $348.74 million. During the same quarter in the prior year, the company earned $1.19 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. Equities analysts anticipate that Tesoro Logistics will post $2.63 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.971 per share. This is a positive change from Tesoro Logistics’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $3.88 annualized dividend and a dividend yield of 7.47%.
Several hedge funds and other institutional investors have recently modified their holdings of TLLP. Country Club Trust Company n.a. raised its position in shares of Tesoro Logistics by 1.4% in the first quarter. Country Club Trust Company n.a. now owns 10,199 shares of the oil and gas company’s stock valued at $556,000 after buying an additional 142 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Tesoro Logistics by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 12,646 shares of the oil and gas company’s stock valued at $689,000 after buying an additional 276 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Tesoro Logistics by 1.3% in the second quarter. Parkside Financial Bank & Trust now owns 30,180 shares of the oil and gas company’s stock valued at $1,560,000 after buying an additional 390 shares during the last quarter. Diversified Trust Co raised its position in shares of Tesoro Logistics by 1.6% in the second quarter. Diversified Trust Co now owns 30,728 shares of the oil and gas company’s stock valued at $1,588,000 after buying an additional 481 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Tesoro Logistics by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 60,820 shares of the oil and gas company’s stock valued at $3,144,000 after buying an additional 650 shares during the last quarter.
Tesoro Logistics Company Profile
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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