Transmontaigne Partners L.P. TLP was a big mover last session, as the company saw its shares rise nearly 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $36.10 to $38.52 in the past one-month time frame.
The move came after the company announced that it has inked a definitive deal and plan of merger with an indirect subsidiary of ArcLight Energy Partners Fund VI, L.P., TLP Finance Holdings, LLC.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Transmontaigne Partners. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Transmontaigne Partners currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
TransMontaigne Partners L.P. Price
TransMontaigne Partners L.P. Price | TransMontaigne Partners L.P. Quote
A better-ranked stock in the Oil and Gas – Production and Pipelines industry is Frank's International N.V. FI, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is TLP going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TransMontaigne Partners L.P. (TLP) : Free Stock Analysis Report
Frank's International N.V. (FI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research