US Bancorp DE raised its stake in shares of Tallgrass Energy Partners, LP (NYSE:TEP) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,473 shares of the pipeline company’s stock after buying an additional 1,103 shares during the period. US Bancorp DE’s holdings in Tallgrass Energy Partners, were worth $375,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Franklin Square Holdings L.P. acquired a new position in shares of Tallgrass Energy Partners, during the first quarter valued at $239,000. Koch Industries Inc. raised its position in shares of 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 raised its position in shares of 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. Wade G W & Inc. acquired a new position in shares of Tallgrass Energy Partners, during the first quarter valued at $332,000. Finally, Clinton Group Inc. acquired a new position in shares of Tallgrass Energy Partners, during the first quarter valued at $349,000. Institutional investors and hedge funds own 66.46% of the company’s stock.
Tallgrass Energy Partners, LP (NYSE:TEP) traded down 0.98% during midday trading on Friday, reaching $45.30. 206,498 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $49.95 and its 200 day moving average price is $50.68. Tallgrass Energy Partners, LP has a 1-year low of $42.59 and a 1-year high of $55.50. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 20.44 and a beta of 1.03.
Tallgrass Energy Partners, (NYSE:TEP) last posted 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. 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 during the quarter, compared to the consensus estimate of $158.93 million. During the same period in the prior year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Tallgrass Energy Partners, LP will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 28th were paid a $0.925 dividend. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. This represents a $3.70 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date was Wednesday, July 26th. Tallgrass Energy Partners,’s dividend payout ratio is currently 165.92%.
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TEP has been the topic of several analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price objective on shares of Tallgrass Energy Partners, in a report on Monday, July 31st. Scotiabank set a $56.00 price objective on shares of Tallgrass Energy Partners, and gave the company a “buy” rating in a report on Friday, July 21st. Stifel Nicolaus restated a “buy” rating and issued a $69.00 price objective on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Barclays PLC increased their price objective on shares of Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $59.00 price objective (up from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Tallgrass Energy Partners, currently has an average rating of “Hold” and an average target price of $60.50.
In other news, insider David G. Dehaemers, Jr. acquired 35,783 shares of Tallgrass Energy Partners, stock in a transaction dated Wednesday, June 7th. The shares were bought at an average cost of $46.47 per share, with a total value of $1,662,836.01. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Brauchle acquired 3,000 shares of Tallgrass Energy Partners, stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $46.10 per share, for a total transaction of $138,300.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 63,274 shares of company stock worth $3,000,096.
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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