Q1 2018 Earnings Forecast for Tesoro Logistics LP Issued By SunTrust Banks (ANDX)
Tesoro Logistics LP (NYSE:ANDX) – Stock analysts at SunTrust Banks issued their Q1 2018 earnings per share (EPS) estimates for shares of Tesoro Logistics in a research report issued to clients and investors on Friday. SunTrust Banks analyst T. Richardson forecasts that the oil and gas company will post earnings per share of $0.76 for the quarter. SunTrust Banks has a “Buy” rating and a $50.00 price objective on the stock. SunTrust Banks also issued estimates for Tesoro Logistics’ Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.80 EPS and Q4 2018 earnings at $0.86 EPS.
Other equities analysts have also issued research reports about the company. Mitsubishi UFJ Financial Group raised Tesoro Logistics to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, August 16th. Bank of America cut their price target on Tesoro Logistics from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 16th. Scotiabank reaffirmed a “buy” rating and set a $59.00 price target on shares of Tesoro Logistics in a research note on Thursday, August 17th. Mizuho reaffirmed a “hold” rating and set a $56.00 price target on shares of Tesoro Logistics in a research note on Friday, October 20th. Finally, BidaskClub raised Tesoro Logistics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.38.
Tesoro Logistics (NYSE ANDX) traded down $1.14 during trading on Monday, reaching $45.31. The company’s stock had a trading volume of 612,600 shares, compared to its average volume of 402,403. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $10,038.59, a price-to-earnings ratio of 18.81, a P/E/G ratio of 3.34 and a beta of 1.12. Tesoro Logistics has a one year low of $42.18 and a one year high of $60.14.
Tesoro Logistics (NYSE:ANDX) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.22. The firm had revenue of $444.00 million for the quarter, compared to analysts’ expectations of $414.69 million. Tesoro Logistics had a return on equity of 22.48% and a net margin of 23.50%. The business’s revenue was up 44.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a $0.9852 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $3.94 annualized dividend and a dividend yield of 8.70%. Tesoro Logistics’s dividend payout ratio (DPR) is currently 167.66%.
In other news, insider Steven Sterin acquired 1,400 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average cost of $45.53 per share, for a total transaction of $63,742.00. Following the completion of the acquisition, the insider now owns 9,714 shares in the company, valued at $442,278.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ANDX. IndexIQ Advisors LLC acquired a new stake in shares of Tesoro Logistics in the third quarter valued at approximately $103,000. Ffcm LLC acquired a new stake in shares of Tesoro Logistics in the third quarter valued at approximately $110,000. Penserra Capital Management LLC acquired a new stake in shares of Tesoro Logistics in the third quarter valued at approximately $131,000. Barnett & Company Inc. acquired a new stake in shares of Tesoro Logistics in the third quarter valued at approximately $136,000. Finally, First Manhattan Co. acquired a new stake in shares of Tesoro Logistics in the third quarter valued at approximately $150,000. 34.86% of the stock is owned by hedge funds and other institutional investors.
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About Tesoro Logistics
Andeavor Logistics LP, formerly 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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