Advisors Asset Management Inc. decreased its position in shares of Tallgrass Energy Partners LP (NYSE:TEP) by 93.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377 shares of the pipeline company’s stock after selling 5,768 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tallgrass Energy Partners were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC acquired a new stake in shares of Tallgrass Energy Partners during the 2nd quarter valued at $714,000. HRT Financial LLC acquired a new position in Tallgrass Energy Partners during the 2nd quarter worth about $495,000. Alpine Global Management LLC acquired a new position in Tallgrass Energy Partners during the 2nd quarter worth about $2,892,000. Morgan Stanley lifted its holdings in Tallgrass Energy Partners by 7.7% during the 2nd quarter. Morgan Stanley now owns 1,310,829 shares of the pipeline company’s stock worth $56,772,000 after buying an additional 93,245 shares during the period. Finally, Natixis acquired a new position in Tallgrass Energy Partners during the 2nd quarter worth about $2,975,000. 57.01% of the stock is currently owned by institutional investors.

Several research analysts have commented on the company. Barclays set a $26.00 target price on Tallgrass Energy Partners and gave the stock a “hold” rating in a report on Thursday, August 16th. Citigroup lifted their target price on Tallgrass Energy Partners from $41.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, June 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Tallgrass Energy Partners currently has an average rating of “Hold” and an average target price of $44.29.

Shares of TEP opened at $43.31 on Friday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 11.49 and a beta of 1.01. Tallgrass Energy Partners LP has a 12 month low of $34.37 and a 12 month high of $52.84. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.52 and a current ratio of 0.63.

Tallgrass Energy Partners Company 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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