SA News • Thu, Jul. 10
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Can New Ownership Add A Spark To Transmontaigne Partners LP?
- Morgan Stanley Capital Corp. is reportedly close to selling its controlling GP interest in TransMontaigne LP, taking away a major source of uncertainty.
- The BOSTCO joint venture with Kinder Morgan offers meaningful incremental cash flow growth potential, but close to 70% of the partnership's revenue is tied to Morgan Stanley-owned companies.
- The range for comparable MLP valuation is rather wide, but TLP's discounted distributable cash flows don't suggest the units are significantly undervalued today.
Thu, Jul. 10, 6:54 PM| Comment!
Jun. 5, 2013, 12:47 PMTransMontaigne Partners (TLP -1.3%) announces a 900K-barrel expansion at the Battleground Oil Specialty Terminal under construction on the Houston Ship Channel. The ~$54M expansion is supported by a long-term leased storage and handling services contract with Morgan Stanley Capital. Kinder Morgan Partners (KMP -2.8%) owns a 55% stake in the complex, with TLP holding the remainder. | Comment!
TLP vs. ETF Alternatives
TransMontaigne Partners LP provides integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of petroleum products, crude oil, chemicals, fertilizers and other liquid products.
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