Duff & Phelps Investment Management Co. lowered its position in Tallgrass Energy Partners, LP (NYSE:TEP) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 923,298 shares of the pipeline company’s stock after selling 20,000 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Tallgrass Energy Partners, were worth $46,248,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC purchased a new position in Tallgrass Energy Partners, during the second quarter worth $338,000. Global X Management Co. LLC raised its position in Tallgrass Energy Partners, by 29.8% in the second quarter. Global X Management Co. LLC now owns 286,191 shares of the pipeline company’s stock worth $14,335,000 after buying an additional 65,666 shares in the last quarter. 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 worth $367,048,000 after buying an additional 995,864 shares in the last quarter. 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. Finally, Gilman Hill Asset Management LLC purchased a new position in Tallgrass Energy Partners, during the second quarter worth $225,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Tallgrass Energy Partners, LP (TEP) opened at 47.20 on Friday. Tallgrass Energy Partners, LP has a 12-month low of $42.59 and a 12-month high of $55.50. The company has a market cap of $3.45 billion, a P/E ratio of 21.30 and a beta of 1.03. The stock’s 50 day moving average is $50.23 and its 200 day moving average is $50.81.

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 analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. Tallgrass Energy Partners, had a net margin of 46.63% and a return on equity of 20.47%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. On average, equities analysts forecast that Tallgrass Energy Partners, LP will post $3.52 earnings per share for the current year.

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Wednesday, July 26th. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is currently 165.92%.

COPYRIGHT VIOLATION WARNING: “Tallgrass Energy Partners, LP (TEP) Shares Sold by Duff & Phelps Investment Management Co.” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.dailypolitical.com/2017/08/12/tallgrass-energy-partners-lp-tep-shares-sold-by-duff-phelps-investment-management-co.html.

A number of research firms have weighed in on TEP. BidaskClub lowered shares of Tallgrass Energy Partners, from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays PLC boosted their target price on shares of Tallgrass Energy Partners, from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and set a $60.00 target price on shares of Tallgrass Energy Partners, in a research report on Monday, July 31st. Scotiabank set a $56.00 target price on shares of Tallgrass Energy Partners, and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $69.00 target price on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Tallgrass Energy Partners, presently has a consensus rating of “Hold” and a consensus price target of $60.50.

In related news, insider David G. Dehaemers, Jr. bought 35,783 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $46.47 per share, for a total transaction of $1,662,836.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David G. Dehaemers, Jr. bought 5,000 shares of the business’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 90 days, insiders have bought 60,274 shares of company stock valued at $2,861,796.

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.

Want to see what other hedge funds are holding TEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy Partners, LP (NYSE:TEP).

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

Receive News & Ratings for Tallgrass Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.