Stifel Nicolaus reissued their buy rating on shares of Tallgrass Energy Partners, LP (NYSE:TEP) in a research note published on Friday, July 14th. They currently have a $69.00 price target on the pipeline company’s stock.
A number of other equities analysts also recently commented on TEP. Morgan Stanley restated an equal weight rating and set a $59.00 price objective (up previously from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. BidaskClub upgraded shares of Tallgrass Energy Partners, from a sell rating to a hold rating in a report on Saturday, July 1st. Scotiabank reiterated a buy rating and issued a $56.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a buy rating and issued a $60.00 price target on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. Finally, Macquarie assumed coverage on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. They issued an outperform rating and a $61.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $60.56.
Tallgrass Energy Partners, (NYSE:TEP) traded down 2.79% on Friday, reaching $49.40. 225,865 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $49.68 and a 200-day moving average price of $50.84. The company has a market capitalization of $3.58 billion, a P/E ratio of 20.46 and a beta of 1.03. Tallgrass Energy Partners, has a 1-year low of $42.59 and a 1-year 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. Equities research analysts expect that Tallgrass Energy Partners, will post $3.54 earnings per share for the current year.
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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 $0.925 dividend. This represents a $3.70 dividend on an annualized basis and a yield of 7.49%. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, July 26th. Tallgrass Energy Partners,’s dividend payout ratio is presently 165.92%.
In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. acquired 26,016 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were purchased at an average cost of $49.83 per share, with a total value of $1,296,377.28. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 4,021 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average cost of $47.30 per share, for a total transaction of $190,193.30. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 91,290 shares of company stock worth $4,406,923.
A number of large investors have recently modified their holdings of the stock. Franklin Square Holdings L.P. acquired a new stake in shares of Tallgrass Energy Partners, during the first quarter worth approximately $239,000. Gilman Hill Asset Management LLC purchased a new stake in Tallgrass Energy Partners, during the second quarter valued at about $225,000. Koch Industries Inc. boosted 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 valued at $283,000 after buying an additional 531 shares in the last quarter. Chicago Partners Investment Group LLC boosted 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 valued at $322,000 after buying an additional 205 shares in the last quarter. Finally, Wade G W & Inc. purchased a new stake in Tallgrass Energy Partners, during the first quarter valued at about $332,000. 65.36% of the stock is currently owned by hedge funds and other institutional investors.
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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