Tallgrass Energy Partners (TEP) Earns Neutral Rating from Analysts at Credit Suisse Group

Stock analysts at Credit Suisse Group assumed coverage on shares of Tallgrass Energy Partners (NYSE:TEP) in a report issued on Thursday, January 4th, Marketbeat.com reports. The firm set a “neutral” rating on the pipeline company’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays restated a “hold” rating and set a $55.00 target price on shares of Tallgrass Energy Partners in a report on Thursday, October 19th. ValuEngine upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. US Capital Advisors cut shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Morgan Stanley decreased their price target on shares of Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $59.11.

Shares of Tallgrass Energy Partners (TEP) traded up $0.54 during trading hours on Thursday, reaching $46.09. 536,300 shares of the company were exchanged, compared to its average volume of 504,763. The firm has a market cap of $3,410.00, a PE ratio of 12.32 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. Tallgrass Energy Partners has a 12-month low of $41.13 and a 12-month high of $55.50.

In related news, insider David G. Dehaemers, Jr. purchased 31,501 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was acquired at an average price of $42.50 per share, for a total transaction of $1,338,792.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David G. Dehaemers, Jr. purchased 1,688 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average price of $44.99 per share, with a total value of $75,943.12. The disclosure for this purchase can be found here. Insiders have bought 86,719 shares of company stock worth $3,753,147 in the last quarter.

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Tallgrass Energy Partners by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 143 shares during the last quarter. Ffcm LLC increased its stake in Tallgrass Energy Partners by 217.7% during the second quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock valued at $115,000 after purchasing an additional 1,548 shares during the last quarter. Doliver Capital Advisors LP bought a new stake in Tallgrass Energy Partners during the second quarter valued at $216,000. Green Square Capital LLC bought a new stake in Tallgrass Energy Partners during the second quarter valued at $258,000. Finally, Bank of New York Mellon Corp increased its stake in Tallgrass Energy Partners by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock valued at $341,000 after purchasing an additional 1,117 shares during the last quarter. Hedge funds and other institutional investors own 62.09% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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