JPMorgan Chase & Co. lessened its holdings in Tallgrass Energy Partners LP (NYSE:TEP) by 21.7% in the first quarter, Holdings Channel reports. The institutional investor owned 686,632 shares of the pipeline company’s stock after selling 190,040 shares during the period. JPMorgan Chase & Co.’s holdings in Tallgrass Energy Partners were worth $26,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new position in Tallgrass Energy Partners in the 4th quarter valued at approximately $101,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Tallgrass Energy Partners by 207.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,520 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,700 shares during the last quarter. Captrust Financial Advisors bought a new position in Tallgrass Energy Partners in the 4th quarter valued at approximately $133,000. Pin Oak Investment Advisors Inc. bought a new position in Tallgrass Energy Partners in the 4th quarter valued at approximately $218,000. Finally, Eagle Global Advisors LLC bought a new position in Tallgrass Energy Partners in the 1st quarter valued at approximately $221,000. Institutional investors and hedge funds own 57.07% of the company’s stock.

Several research analysts have issued reports on TEP shares. Robert W. Baird set a $44.00 price target on shares of Tallgrass Energy Partners and gave the stock a “buy” rating in a report on Tuesday, February 27th. Morgan Stanley lowered their price target on shares of Tallgrass Energy Partners from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, March 28th. Citigroup lowered their price target on shares of Tallgrass Energy Partners from $51.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, March 27th. Royal Bank of Canada lowered shares of Tallgrass Energy Partners from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 17th. Finally, ValuEngine lowered shares of Tallgrass Energy Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.63.

Shares of TEP stock opened at $45.66 on Wednesday. The company has a market cap of $3.21 billion, a PE ratio of 12.11 and a beta of 1.02. Tallgrass Energy Partners LP has a 52 week low of $34.37 and a 52 week high of $52.84. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.63 and a quick ratio of 0.52.

Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.58 by $0.33. The company had revenue of $179.09 million during the quarter, compared to the consensus estimate of $196.92 million. Tallgrass Energy Partners had a net margin of 68.20% and a return on equity of 30.04%. sell-side analysts expect that Tallgrass Energy Partners LP will post 2.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were given a dividend of $0.975 per share. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, April 27th. This represents a $3.90 annualized dividend and a dividend yield of 8.54%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is 103.45%.

Tallgrass Energy Partners Profile

Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. It operates through Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling segments. The Natural Gas Transportation segment engages in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,641 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska.

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

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