Tallgrass Energy Partners, LP (TEP) Given Average Rating of “Hold” by Analysts
Shares of Tallgrass Energy Partners, LP (NYSE:TEP) have earned a consensus rating of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $60.57.
TEP has been the subject of several recent research reports. Mitsubishi UFJ Financial Group initiated coverage on Tallgrass Energy Partners, in a research report on Wednesday, April 19th. They set a “hold” rating and a $58.00 price target for the company. BidaskClub upgraded 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 began coverage on Tallgrass Energy Partners, in a research note on Friday, April 21st. They set an “outperform” rating and a $61.00 target price on the stock. Finally, Scotiabank set a $56.00 price objective on Tallgrass Energy Partners, and gave the stock a “buy” rating in a research note on Friday, July 21st.
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In other news, insider David G. Dehaemers, Jr. acquired 35,783 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 15,470 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average price of $49.61 per share, for a total transaction of $767,466.70. The disclosure for this purchase can be found here. Insiders bought a total of 60,274 shares of company stock worth $2,861,796 in the last 90 days.
Several large investors have recently bought and sold shares of the company. Ffcm LLC boosted its position in Tallgrass Energy Partners, by 217.7% in the second quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock valued at $115,000 after buying an additional 1,548 shares during the last quarter. Penserra Capital Management LLC boosted its position in Tallgrass Energy Partners, by 300.3% in the second quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock worth $142,000 after buying an additional 2,144 shares in the last quarter. Gilman Hill Asset Management LLC purchased a new position in Tallgrass Energy Partners, during the second quarter worth approximately $225,000. Franklin Square Holdings L.P. purchased a new position in Tallgrass Energy Partners, during the first quarter worth approximately $239,000. Finally, Koch Industries Inc. boosted 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. Hedge funds and other institutional investors own 66.82% of the company’s stock.
Tallgrass Energy Partners, (NYSE:TEP) opened at 47.20 on Friday. The company has a 50 day moving average price of $50.23 and a 200-day moving average price of $50.81. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 21.30 and a beta of 1.03. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50.
Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.01. The firm had revenue of $160.86 million for the quarter, compared to analyst estimates of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. Equities research analysts anticipate that Tallgrass Energy Partners, will post $3.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.925 per share. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. This represents a $3.70 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date is Wednesday, July 26th. Tallgrass Energy Partners,’s payout ratio is currently 165.92%.
About Tallgrass Energy Partners,
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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