Tallgrass Energy Partners LP (TEP) Trading Up 1.8%
Tallgrass Energy Partners LP (NYSE:TEP) was up 1.8% during mid-day trading on Friday . The stock traded as high as $48.91 and last traded at $48.22, with a volume of 74,695 shares traded. The stock had previously closed at $47.39.
Several equities research analysts have issued reports on TEP shares. 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 research report on Monday, April 18th. Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 price objective on shares of Tallgrass Energy Partners in a research report on Sunday, August 7th. Zacks Investment Research upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, July 20th. Citigroup Inc. reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Wednesday, May 18th. Finally, Barclays PLC increased their price objective on Tallgrass Energy Partners from $36.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, May 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.90.
The company has a market cap of $3.51 billion and a PE ratio of 22.02. The stock’s 50-day moving average price is $45.92 and its 200 day moving average price is $40.97.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.35. The business had revenue of $146.90 million for the quarter, compared to the consensus estimate of $147.34 million. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Equities analysts anticipate that Tallgrass Energy Partners LP will post $2.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a dividend of $0.755 per share. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.71. This represents a $3.02 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other news, CEO David G. Dehaemers, Jr. bought 5,300 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were bought at an average price of $45.11 per share, for a total transaction of $239,083.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David G. Dehaemers, Jr. bought 7,500 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were purchased at an average price of $43.45 per share, for a total transaction of $325,875.00. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Tallgrass Energy Partners stock. Kayne Anderson Capital Advisors LP boosted its position in shares of Tallgrass Energy Partners LP (NYSE:TEP) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,930,228 shares of the company’s stock after buying an additional 206,578 shares during the period. Tallgrass Energy Partners comprises 1.9% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 15th largest position. Kayne Anderson Capital Advisors LP owned approximately 6.49% of Tallgrass Energy Partners worth $161,949,000 as of its most recent SEC filing.
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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