Pointe Capital Management LLC cut its stake in shares of Tallgrass Energy Partners, LP (NYSE:TEP) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,443 shares of the pipeline company’s stock after selling 981 shares during the period. Tallgrass Energy Partners, comprises approximately 1.1% of Pointe Capital Management LLC’s holdings, making the stock its 24th largest position. Pointe Capital Management LLC’s holdings in Tallgrass Energy Partners, were worth $1,475,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. raised its position in Tallgrass Energy Partners, by 15.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock valued at $367,048,000 after buying an additional 995,864 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in Tallgrass Energy Partners, by 6.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,240,249 shares of the pipeline company’s stock valued at $172,370,000 after buying an additional 204,708 shares in the last quarter. Bank of America Corp DE raised its position in Tallgrass Energy Partners, by 13.7% in the first quarter. Bank of America Corp DE now owns 1,655,913 shares of the pipeline company’s stock valued at $88,095,000 after buying an additional 199,309 shares in the last quarter. Tiedemann Wealth Management LLC raised its position in Tallgrass Energy Partners, by 72.3% in the first quarter. Tiedemann Wealth Management LLC now owns 313,442 shares of the pipeline company’s stock valued at $12,621,000 after buying an additional 131,557 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Tallgrass Energy Partners, by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 799,101 shares of the pipeline company’s stock valued at $42,512,000 after buying an additional 108,974 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Tallgrass Energy Partners, LP (NYSE:TEP) opened at 48.08 on Thursday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 19.92 and a beta of 1.03. The company’s 50 day moving average price is $50.15 and its 200 day moving average price is $50.85. Tallgrass Energy Partners, LP has a one year low of $42.59 and a one year high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.01. The company had revenue of $160.86 million for the quarter, compared to the consensus estimate of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. On average, equities analysts expect that Tallgrass Energy Partners, LP will post $3.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, July 28th will be paid a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a dividend yield of 7.70%. The ex-dividend date of this dividend is Wednesday, July 26th. This is an increase from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. Tallgrass Energy Partners,’s dividend payout ratio is 165.92%.

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Several equities analysts have recently weighed in on TEP shares. Mitsubishi UFJ Financial Group started coverage on Tallgrass Energy Partners, in a research note on Wednesday, April 19th. They issued a “hold” rating and a $58.00 price objective on the stock. BidaskClub raised Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Macquarie started coverage on Tallgrass Energy Partners, in a research note on Friday, April 21st. They issued an “outperform” rating and a $61.00 price objective on the stock. Finally, Scotiabank set a $56.00 price objective on Tallgrass Energy Partners, and gave the company a “buy” rating in a research note on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.50.

In related news, insider David G. Dehaemers, Jr. purchased 4,021 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was bought at an average price of $47.30 per share, for a total transaction of $190,193.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David G. Dehaemers, Jr. purchased 5,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $48.26 per share, with a total value of $241,300.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 60,274 shares of company stock valued at $2,861,796.

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.

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Institutional Ownership by Quarter for Tallgrass Energy Partners, (NYSE:TEP)

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