Stifel Nicolaus reissued their buy rating on shares of Tallgrass Energy Partners, LP (NYSE:TEP) in a report published on Friday, July 14th. They currently have a $69.00 price objective on the pipeline company’s stock.
TEP has been the subject of a number of other reports. BidaskClub raised Tallgrass Energy Partners, from a strong sell rating to a sell rating in a report on Saturday, June 24th. Scotiabank reaffirmed a buy rating and issued a $56.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, April 27th. Macquarie started coverage on Tallgrass Energy Partners, in a report on Friday, April 21st. They issued an outperform rating and a $61.00 price target for the company. Mitsubishi UFJ Financial Group started coverage on Tallgrass Energy Partners, in a report on Wednesday, April 19th. They issued a hold rating and a $58.00 price target for the company. Finally, Zacks Investment Research lowered Tallgrass Energy Partners, from a buy rating to a hold rating in a report on Friday, April 28th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $60.56.
Shares of Tallgrass Energy Partners, (NYSE:TEP) traded down 2.79% during trading on Friday, reaching $49.40. The company’s stock had a trading volume of 225,865 shares. The stock has a 50-day moving average of $49.68 and a 200-day moving average of $50.84. The stock has a market cap of $3.58 billion, a P/E ratio of 20.46 and a beta of 1.03. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50.
Tallgrass Energy Partners, (NYSE:TEP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.01. Tallgrass Energy Partners, had a net margin of 46.63% and a return on equity of 20.47%. The firm had revenue of $160.86 million for the quarter, compared to the consensus estimate of $158.93 million. During the same period last year, the company posted $0.92 earnings per share. Tallgrass Energy Partners,’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that Tallgrass Energy Partners, will post $3.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 28th will be paid a dividend of $0.925 per share. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, July 26th. This represents a $3.70 annualized dividend and a yield of 7.49%. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is currently 165.92%.
In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. acquired 35,783 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $46.47 per share, with a total value of $1,662,836.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 26,016 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were acquired at an average cost of $49.83 per share, with a total value of $1,296,377.28. The disclosure for this purchase can be found here. Insiders have purchased 91,290 shares of company stock valued at $4,406,923 in the last three months.
A number of large investors have recently added to or reduced their stakes in the stock. Gilman Hill Asset Management LLC purchased a new stake in Tallgrass Energy Partners, during the second quarter worth $225,000. Franklin Square Holdings L.P. purchased a new stake in Tallgrass Energy Partners, during the first quarter worth $239,000. Koch Industries Inc. increased its stake 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 worth $283,000 after buying an additional 531 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake 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 worth $322,000 after buying an additional 205 shares during the last quarter. Finally, Wade G W & Inc. purchased a new stake in Tallgrass Energy Partners, during the first quarter worth $332,000. Institutional investors and hedge funds own 65.36% of the company’s stock.
About Tallgrass Energy Partners,
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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