Shares of Tallgrass Energy Partners LP (NYSE:TEP) were down 1.7% during trading on Wednesday . The stock traded as low as $44.97 and last traded at $45.21, with a volume of 161,235 shares traded. The stock had previously closed at $45.98.

A number of equities analysts recently issued reports on TEP shares. Citigroup Inc. reiterated a “buy” rating on shares of Tallgrass Energy Partners in a report on Wednesday, May 18th. Deutsche Bank AG upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, April 18th. Barclays PLC started coverage on Tallgrass Energy Partners in a report on Wednesday, April 13th. They issued an “equal weight” rating and a $36.00 target price on the stock. Morgan Stanley reiterated a “hold” rating and issued a $53.00 target price on shares of Tallgrass Energy Partners in a report on Wednesday, May 18th. Finally, Zacks Investment Research upgraded Tallgrass Energy Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, May 5th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.70.

The company has a 50 day moving average price of $46.31 and a 200-day moving average price of $39.38. The firm has a market cap of $3.26 billion and a P/E ratio of 25.28.

Tallgrass Energy Partners (NYSE:TEP) last released its earnings results on Thursday, April 28th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.18. The firm earned $145.40 million during the quarter, compared to analysts’ expectations of $147.95 million. The company’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities analysts predict that Tallgrass Energy Partners LP will post $2.25 earnings per share for the current fiscal year.

In other Tallgrass Energy Partners news, CEO David G. Dehaemers, Jr. purchased 7,500 shares of the stock in a transaction dated Friday, May 27th. The shares were purchased at an average cost of $43.45 per share, with a total value of $325,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David G. Dehaemers, Jr. purchased 5,300 shares of the stock in a transaction dated Thursday, May 26th. The shares were acquired at an average cost of $45.11 per share, for a total transaction of $239,083.00. The disclosure for this purchase can be found here.

Several hedge funds and institutional investors have made changes to their positions in TEP. Miller Howard Investments Inc. NY increased its position in shares of Tallgrass Energy Partners by 63.2% in the fourth quarter. Miller Howard Investments Inc. NY now owns 815,917 shares of the company’s stock worth $33,624,000 after buying an additional 315,827 shares during the last quarter. Jennison Associates LLC increased its position in shares of Tallgrass Energy Partners by 75.5% in the fourth quarter. Jennison Associates LLC now owns 303,655 shares of the company’s stock worth $12,514,000 after buying an additional 130,606 shares during the last quarter. RR Advisors LLC increased its position in shares of Tallgrass Energy Partners by 7.2% in the fourth quarter. RR Advisors LLC now owns 1,513,000 shares of the company’s stock worth $62,349,000 after buying an additional 102,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Tallgrass Energy Partners by 10.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 883,815 shares of the company’s stock worth $36,422,000 after buying an additional 83,691 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Tallgrass Energy Partners during the fourth quarter worth about $1,265,000.

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, which includes the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics, which includes the ownership and operation of Federal Energy Regulatory Commission-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics, which includes the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquid (NGLs).

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