Tesoro Logistics LP (TLLP) Receives $56.20 Consensus Target Price from Analysts
Shares of Tesoro Logistics LP (NASDAQ:TLLP) have earned a consensus rating of “Buy” from the nine analysts that are presently covering the company. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $56.20.
Several equities research analysts have commented on the company. Mizuho assumed coverage on Tesoro Logistics in a report on Friday, September 30th. They issued a “buy” rating and a $58.00 target price on the stock. Zacks Investment Research raised Tesoro Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, October 26th. Deutsche Bank AG set a $54.00 target price on Tesoro Logistics and gave the stock a “buy” rating in a report on Monday, October 10th. Finally, Jefferies Group assumed coverage on Tesoro Logistics in a report on Tuesday, August 23rd. They issued a “hold” rating and a $49.00 target price on the stock.
Shares of Tesoro Logistics (NASDAQ:TLLP) opened at 47.13 on Monday. Tesoro Logistics has a one year low of $35.18 and a one year high of $51.83. The stock has a market cap of $4.81 billion and a price-to-earnings ratio of 22.76. The company has a 50-day moving average price of $46.19 and a 200 day moving average price of $47.41.
Tesoro Logistics (NASDAQ:TLLP) last released its earnings results on Monday, October 31st. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.17. The business earned $6.54 billion during the quarter, compared to analyst estimates of $7.74 billion. During the same quarter last year, the business earned $0.60 earnings per share. Equities research analysts expect that Tesoro Logistics will post $2.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were issued a dividend of $0.875 per share. This is an increase from Tesoro Logistics’s previous quarterly dividend of $0.84. This represents a $3.50 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date was Wednesday, November 2nd.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CENTRAL TRUST Co increased its position in Tesoro Logistics by 10.6% in the third quarter. CENTRAL TRUST Co now owns 2,276 shares of the company’s stock worth $110,000 after buying an additional 219 shares in the last quarter. Creative Planning purchased a new position in Tesoro Logistics during the third quarter worth $121,000. The Manufacturers Life Insurance Company purchased a new position in Tesoro Logistics during the third quarter worth $127,000. IndexIQ Advisors LLC increased its position in Tesoro Logistics by 6.0% in the third quarter. IndexIQ Advisors LLC now owns 2,835 shares of the company’s stock worth $137,000 after buying an additional 161 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Tesoro Logistics during the third quarter worth $205,000.
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About Tesoro Logistics
Tesoro Logistics LP (TLLP) owns, operates, develops and acquires logistics assets. TLLP is a logistics company operating primarily in the western and mid-continent regions of the United States. The Company operates through three segments: Gathering, Processing, and Terminalling and Transportation. Its gathering systems include crude oil and natural gas pipeline gathering systems in the Bakken Shale/Williston Basin area of North Dakota and Montana and the Green River Basin, Uinta Basin and Vermillion Basin in the states of Utah, Colorado and Wyoming.
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