Tallgrass Energy Partners, LP (NYSE:TEP) had its price target boosted by Barclays PLC from $58.00 to $61.00 in a research report sent to investors on Friday. They currently have an equal weight rating on the pipeline company’s stock.

TEP has been the topic of several other research reports. BidaskClub upgraded shares of Tallgrass Energy Partners, from a strong sell rating to a sell rating in a research note on Saturday, June 24th. Stifel Nicolaus restated a buy rating and issued a $69.00 price target on shares of Tallgrass Energy Partners, in a research note on Friday, July 14th. Scotiabank restated a buy rating and issued a $56.00 price target on shares of Tallgrass Energy Partners, in a research note on Thursday, April 27th. Macquarie started coverage on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. They issued an outperform rating and a $61.00 price target on the stock. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Tallgrass Energy Partners, in a research note on Wednesday, April 19th. They issued a hold rating and a $58.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tallgrass Energy Partners, currently has an average rating of Hold and an average price target of $60.50.

Tallgrass Energy Partners, (TEP) opened at 48.72 on Friday. The firm’s 50-day moving average price is $49.68 and its 200 day moving average price is $50.84. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50. The firm has a market cap of $3.53 billion, a PE ratio of 20.18 and a beta of 1.03.

Tallgrass Energy Partners, (NYSE:TEP) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing the 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 analyst estimates of $158.93 million. During the same quarter in the previous year, the business posted $0.92 EPS. Tallgrass Energy Partners,’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Tallgrass Energy Partners, will post $3.51 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 28th will be paid a dividend of $0.925 per share. This represents a $3.70 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend is Wednesday, July 26th. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is currently 165.92%.

In related news, insider David G. Dehaemers, Jr. acquired 35,783 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were acquired at an average price of $46.47 per share, for a total transaction of $1,662,836.01. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $49.75 per share, for a total transaction of $248,750.00. The disclosure for this purchase can be found here. Insiders have purchased 91,290 shares of company stock worth $4,406,923 in the last quarter.

Several hedge funds and other institutional investors have recently bought and sold shares of TEP. Tocqueville Asset Management L.P. raised its position in Tallgrass Energy Partners, by 0.3% in the first quarter. Tocqueville Asset Management L.P. now owns 10,031 shares of the pipeline company’s stock worth $534,000 after buying an additional 26 shares in the last quarter. Country Club Trust Company n.a. raised its position in Tallgrass Energy Partners, by 1.0% in the first quarter. Country Club Trust Company n.a. now owns 7,825 shares of the pipeline company’s stock worth $417,000 after buying an additional 77 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in 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 worth $322,000 after buying an additional 205 shares in the last quarter. Koch Industries Inc. raised its position in Tallgrass Energy Partners, by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock worth $283,000 after buying an additional 531 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Tallgrass Energy Partners, by 4.0% in the second quarter. Parkside Financial Bank & Trust now owns 24,470 shares of the pipeline company’s stock worth $1,226,000 after buying an additional 930 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Tallgrass Energy Partners, Company Profile

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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