Tesoro Logistics LP (NASDAQ:TLLP) announced a quarterly dividend on Thursday, January 19th. Stockholders of record on Friday, February 3rd will be given a dividend of 0.91 per share on Tuesday, February 14th. This represents a $3.64 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend is Wednesday, February 1st. This is an increase from Tesoro Logistics’s previous quarterly dividend of $0.88.
Tesoro Logistics (NASDAQ:TLLP) traded down 0.15% during mid-day trading on Thursday, hitting $54.51. 204,382 shares of the stock traded hands. The firm has a market cap of $5.57 billion and a P/E ratio of 26.32. Tesoro Logistics has a 52-week low of $35.18 and a 52-week high of $54.93. The firm’s 50-day moving average is $50.44 and its 200 day moving average is $47.89.
Tesoro Logistics (NASDAQ:TLLP) last issued its earnings results on Monday, October 31st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.17. The firm had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $7.74 billion. During the same quarter last year, the company earned $0.60 EPS. Equities analysts predict that Tesoro Logistics will post $2.13 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in TLLP. Bank of New York Mellon Corp boosted its position in Tesoro Logistics by 16.4% in the third quarter. Bank of New York Mellon Corp now owns 14,274 shares of the company’s stock worth $691,000 after buying an additional 2,013 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Tesoro Logistics during the third quarter worth approximately $127,000. Ameriprise Financial Inc. boosted its position in Tesoro Logistics by 81.7% in the third quarter. Ameriprise Financial Inc. now owns 12,366 shares of the company’s stock worth $599,000 after buying an additional 5,559 shares in the last quarter. Finally, Credit Suisse AG boosted its position in Tesoro Logistics by 10.0% in the third quarter. Credit Suisse AG now owns 229,801 shares of the company’s stock worth $11,132,000 after buying an additional 20,854 shares in the last quarter.
Several research firms recently weighed in on TLLP. Mizuho began coverage on shares of Tesoro Logistics in a report on Thursday, September 29th. They issued a “buy” rating and a $58.00 price target on the stock. Zacks Investment Research lowered Tesoro Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Deutsche Bank AG set a $54.00 price objective on Tesoro Logistics and gave the company a “buy” rating in a research report on Monday, October 10th. Jefferies Group set a $49.00 price target on Tesoro Logistics and gave the stock a “hold” rating in a research report on Saturday, October 15th. Finally, Morgan Stanley raised Tesoro Logistics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $55.00 to $59.00 in a research report on Friday, January 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Tesoro Logistics presently has an average rating of “Buy” and a consensus target price of $57.00.
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.