Level Four Advisory Services LLC lowered its position in Tallgrass Energy Partners, LP (NYSE:TEP) by 25.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,675 shares of the pipeline company’s stock after selling 1,935 shares during the period. Level Four Advisory Services LLC’s holdings in Tallgrass Energy Partners, were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TEP. Tortoise Capital Advisors L.L.C. lifted its holdings in Tallgrass Energy Partners, by 15.7% in the 2nd 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 purchasing an additional 995,864 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Tallgrass Energy Partners, by 4.3% in the 2nd quarter. Alps Advisors Inc. now owns 3,380,112 shares of the pipeline company’s stock valued at $169,310,000 after purchasing an additional 137,800 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Tallgrass Energy Partners, by 14.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock valued at $53,041,000 after purchasing an additional 133,102 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Tallgrass Energy Partners, by 3.4% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock valued at $167,808,000 after purchasing an additional 110,060 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in Tallgrass Energy Partners, by 29.8% in the 2nd quarter. Global X Management Co. LLC now owns 286,191 shares of the pipeline company’s stock valued at $14,335,000 after purchasing an additional 65,666 shares in the last quarter. Institutional investors own 62.09% of the company’s stock.

Tallgrass Energy Partners, LP (NYSE:TEP) traded up 0.335% on Thursday, hitting $46.405. The stock had a trading volume of 21,160 shares. The stock’s 50 day moving average is $47.57 and its 200 day moving average is $49.08. Tallgrass Energy Partners, LP has a one year low of $42.59 and a one year high of $55.50. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 20.941 and a beta of 1.04.

Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings data 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 company had revenue of $160.86 million for 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 firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. Analysts anticipate that Tallgrass Energy Partners, LP will post $4.00 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.945 per share. The ex-dividend date is Monday, October 30th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 8.17%. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is presently 165.92%.

A number of research analysts have weighed in on TEP shares. Scotiabank set a $56.00 price objective on Tallgrass Energy Partners, and gave the company a “buy” rating in a report on Friday, July 21st. Barclays PLC lifted their price target on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. BidaskClub upgraded Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Morgan Stanley reiterated an “equal weight” rating and set a $59.00 price target (up previously from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Finally, Robert W. Baird reiterated a “buy” rating and set a $67.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $59.33.

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In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. bought 10,000 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $45.13 per share, for a total transaction of $451,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David G. Dehaemers, Jr. bought 17,350 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $44.64 per share, for a total transaction of $774,504.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 30,350 shares of company stock worth $1,364,104.

Tallgrass Energy Partners, 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.

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

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