Tallgrass Energy Partners, LP (NYSE:TEP)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a research note issued on Friday. They currently have a $69.00 price objective on the pipeline company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 32.69% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $59.00 price target (up previously from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday. BidaskClub upgraded Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Scotiabank restated a “buy” rating and issued a $56.00 price target on shares of Tallgrass Energy Partners, in a research report on Thursday, April 27th. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price target on shares of Tallgrass Energy Partners, in a research report on Friday, April 21st. Finally, Macquarie started coverage on Tallgrass Energy Partners, in a research report on Friday, April 21st. They issued an “outperform” rating and a $61.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.56.
Shares of Tallgrass Energy Partners, (NYSE:TEP) traded down 0.12% on Friday, hitting $52.00. The stock had a trading volume of 619,670 shares. The stock has a 50 day moving average price of $48.69 and a 200-day moving average price of $50.59. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 21.54 and a beta of 1.03. Tallgrass Energy Partners, has a 12-month low of $42.59 and a 12-month high of $55.50.
Tallgrass Energy Partners, (NYSE:TEP) last posted its earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Tallgrass Energy Partners, had a net margin of 48.06% and a return on equity of 18.77%. The firm had revenue of $144.40 million during the quarter, compared to analysts’ expectations of $160.56 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts expect that Tallgrass Energy Partners, will post $3.40 earnings per share for the current year.
In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. bought 5,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $49.75 per share, for a total transaction of $248,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David G. Dehaemers, Jr. bought 26,016 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were acquired at an average price of $49.83 per share, for a total transaction of $1,296,377.28. The disclosure for this purchase can be found here. Insiders have acquired a total of 91,290 shares of company stock worth $4,406,923 in the last quarter.
Institutional investors have recently added to or reduced their stakes in the company. Franklin Square Holdings L.P. acquired a new position in Tallgrass Energy Partners, during the first quarter valued at about $239,000. Koch Industries Inc. boosted its position in Tallgrass Energy Partners, by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock valued at $283,000 after buying an additional 531 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Tallgrass Energy Partners, by 3.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,050 shares of the pipeline company’s stock valued at $322,000 after buying an additional 205 shares during the last quarter. Wade G W & Inc. acquired a new position in Tallgrass Energy Partners, during the first quarter valued at about $332,000. Finally, Clinton Group Inc. acquired a new position in Tallgrass Energy Partners, during the first quarter valued at about $349,000. Institutional investors own 65.54% of the company’s stock.
Tallgrass Energy Partners, Company Profile
Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities.
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