Tallgrass Energy Partners LP (TEP) Sees Large Volume Increase
Tallgrass Energy Partners LP (NYSE:TEP) saw strong trading volume on Friday . 405,274 shares traded hands during mid-day trading, an increase of 91% from the previous session’s volume of 211,764 shares.The stock last traded at $47.01 and had previously closed at $46.24.
A number of research analysts have weighed in on the stock. Credit Suisse Group AG reiterated a “neutral” rating on shares of Tallgrass Energy Partners in a research note on Tuesday, August 16th. Barclays PLC boosted their target price on shares of Tallgrass Energy Partners from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Citigroup Inc. reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research note on Wednesday, May 18th. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $53.00 target price on shares of Tallgrass Energy Partners in a research note on Wednesday, May 18th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.90.
The firm has a 50 day moving average price of $46.86 and a 200-day moving average price of $42.51. The stock has a market cap of $3.39 billion and a price-to-earnings ratio of 21.27.
Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.35. During the same quarter last year, the company earned $0.55 EPS. The company had revenue of $146.90 million for the quarter, compared to analyst estimates of $147.34 million. The business’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Tallgrass Energy Partners LP will post $2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.755 per share. The ex-dividend date was Wednesday, July 27th. This represents a $3.02 annualized dividend and a dividend yield of 6.42%. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.71.
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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