Tallgrass Energy Partners, LP (NYSE:TEP)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $42.81 and last traded at $43.40, with a volume of 227500 shares traded. The stock had previously closed at $43.50.

TEP has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price objective on shares of Tallgrass Energy Partners, in a research report on Monday, July 31st. Barclays PLC boosted their price objective on 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. BidaskClub downgraded Tallgrass Energy Partners, from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Robert W. Baird reissued a “buy” rating and set a $67.00 price objective on shares of Tallgrass Energy Partners, in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised Tallgrass Energy Partners, from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.11.

The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $3,210.00, a price-to-earnings ratio of 11.73 and a beta of 1.03.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 8.72%. This is an increase from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, October 30th. Tallgrass Energy Partners,’s dividend payout ratio is 98.93%.

In other news, insider David G. Dehaemers, Jr. acquired 15,000 shares of Tallgrass Energy Partners, stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $42.97 per share, for a total transaction of $644,550.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David G. Dehaemers, Jr. acquired 10,000 shares of Tallgrass Energy Partners, stock in a transaction on Wednesday, November 8th. The stock was purchased at an average price of $46.35 per share, with a total value of $463,500.00. The disclosure for this purchase can be found here. Insiders purchased 37,829 shares of company stock valued at $1,675,970 over the last ninety days.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. lifted its stake in Tallgrass Energy Partners, by 2.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after buying an additional 195,068 shares during the last quarter. Alps Advisors Inc. lifted its stake in Tallgrass Energy Partners, by 13.0% in the third quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock valued at $182,878,000 after buying an additional 438,600 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Tallgrass Energy Partners, by 3.4% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock valued at $167,808,000 after buying an additional 110,060 shares during the last quarter. Harvest Fund Advisors LLC lifted its stake in Tallgrass Energy Partners, by 6.1% in the third quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock valued at $89,746,000 after buying an additional 107,897 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Tallgrass Energy Partners, by 2.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,084,722 shares of the pipeline company’s stock worth $51,947,000 after purchasing an additional 25,818 shares during the last quarter. Institutional investors own 53.07% of the company’s stock.

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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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