Transmontaigne Partners L.P. (TLP - Free Report) 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%.
A better-ranked stock in the Oil and Gas – Production and Pipelines industry is Frank's International N.V. (FI - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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