Tesoro Logistics LP (TLLP) Now Covered by SunTrust Banks, Inc.

Analysts at SunTrust Banks, Inc. initiated coverage on shares of Tesoro Logistics LP (NASDAQ:TLLP) in a research report issued on Monday. The brokerage set a “buy” rating and a $62.00 price target on the stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 18.10% from the stock’s current price.

TLLP has been the topic of several other research reports. Citigroup Inc reissued a “buy” rating on shares of Tesoro Logistics in a report on Monday, January 30th. Mizuho lowered shares of Tesoro Logistics from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Wednesday, February 8th. Zacks Investment Research raised shares of Tesoro Logistics from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Saturday, January 7th. Morgan Stanley raised shares of Tesoro Logistics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $59.00 in a report on Friday, January 6th. Finally, Scotiabank set a $63.00 price target on shares of Tesoro Logistics and gave the company a “buy” rating in a report on Monday, February 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Tesoro Logistics currently has a consensus rating of “Buy” and an average target price of $58.56.

Analyst Recommendations for Tesoro Logistics (NASDAQ:TLLP)

Tesoro Logistics (NASDAQ:TLLP) traded down 2.03% during mid-day trading on Monday, hitting $52.50. 363,157 shares of the company’s stock were exchanged. Tesoro Logistics has a 52 week low of $41.22 and a 52 week high of $60.14. The firm has a 50 day moving average of $56.71 and a 200 day moving average of $50.54. The stock has a market capitalization of $5.41 billion and a P/E ratio of 28.07.

Tesoro Logistics (NASDAQ:TLLP) last announced its quarterly earnings results on Monday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.25. The business had revenue of $319 million for the quarter, compared to analysts’ expectations of $319.77 million. Tesoro Logistics’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. Equities analysts forecast that Tesoro Logistics will post $2.97 earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in Tesoro Logistics by 6.4% in the third quarter. Advisors Asset Management Inc. now owns 95,366 shares of the company’s stock valued at $4,620,000 after buying an additional 5,697 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Tesoro Logistics by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 152,449 shares of the company’s stock valued at $7,746,000 after buying an additional 2,595 shares during the last quarter. NBW Capital LLC raised its stake in Tesoro Logistics by 3.4% in the third quarter. NBW Capital LLC now owns 187,511 shares of the company’s stock valued at $9,083,000 after buying an additional 6,207 shares during the last quarter. BlackRock Advisors LLC raised its stake in Tesoro Logistics by 31.9% in the third quarter. BlackRock Advisors LLC now owns 206,023 shares of the company’s stock valued at $9,980,000 after buying an additional 49,780 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tesoro Logistics by 7.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 712,427 shares of the company’s stock valued at $36,198,000 after buying an additional 52,418 shares during the last quarter.

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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