Tesoro Logistics LP (TLLP) Issues Quarterly Earnings Results

Tesoro Logistics LP (NASDAQ:TLLP) announced its earnings results on Monday. The oil and gas company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.12. The firm had revenue of $420 million for the quarter, compared to the consensus estimate of $348.74 million. During the same quarter in the previous year, the company earned $1.19 earnings per share. The company’s revenue for the quarter was up 40.0% on a year-over-year basis.

Earnings History for Tesoro Logistics (NASDAQ:TLLP)

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date was Wednesday, May 3rd. This is a positive change from Tesoro Logistics’s previous quarterly dividend of $0.91.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Tesoro Logistics from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Scotiabank reissued a “buy” rating and issued a $63.00 price objective on shares of Tesoro Logistics in a research note on Thursday, April 27th. Jefferies Group LLC decreased their price objective on shares of Tesoro Logistics from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Wednesday, April 19th. SunTrust Banks, Inc. initiated coverage on shares of Tesoro Logistics in a research note on Monday, March 20th. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, Mizuho lowered shares of Tesoro Logistics from a “buy” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Wednesday, February 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $58.29.

ILLEGAL ACTIVITY WARNING: “Tesoro Logistics LP (TLLP) Issues Quarterly Earnings Results” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.chaffeybreeze.com/2017/05/20/tesoro-logistics-lp-tllp-posts-quarterly-earnings-results-misses-expectations-by-0-12-eps-updated.html.

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Tesoro Logistics by 6.4% in the third quarter. Advisors Asset Management Inc. now owns 95,366 shares of the oil and gas company’s stock worth $4,620,000 after buying an additional 5,697 shares during the period. Wade G W & Inc. boosted its stake in shares of Tesoro Logistics by 2.0% in the third quarter. Wade G W & Inc. now owns 7,091 shares of the oil and gas company’s stock worth $343,000 after buying an additional 138 shares during the period. Pointe Capital Management LLC boosted its stake in shares of Tesoro Logistics by 0.3% in the third quarter. Pointe Capital Management LLC now owns 9,451 shares of the oil and gas company’s stock worth $458,000 after buying an additional 25 shares during the period. Alps Advisors Inc. boosted its stake in shares of Tesoro Logistics by 14.2% in the third quarter. Alps Advisors Inc. now owns 4,333,752 shares of the oil and gas company’s stock worth $209,927,000 after buying an additional 539,809 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Tesoro Logistics by 111.1% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,690,800 shares of the oil and gas company’s stock worth $81,887,000 after buying an additional 890,000 shares during the period.

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.

12 Month Chart for NASDAQ:TLLP

Receive News & Ratings for Tesoro Logistics LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesoro Logistics LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply