Tallgrass Energy Partners LP (TEP) Given Average Rating of “Hold” by Analysts
Shares of Tallgrass Energy Partners LP (NYSE:TEP) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $44.17.
Separately, Barclays set a $26.00 target price on Tallgrass Energy Partners and gave the company a “hold” rating in a research note on Thursday, August 16th.
A number of institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Tallgrass Energy Partners by 59.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,020 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 1,500 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Tallgrass Energy Partners during the 1st quarter valued at $154,000. Baldwin Brothers Inc. MA acquired a new position in shares of Tallgrass Energy Partners during the 2nd quarter valued at $197,000. Vishria Bird Financial Group LLC acquired a new position in shares of Tallgrass Energy Partners during the 2nd quarter valued at $357,000. Finally, HRT Financial LLC acquired a new position in shares of Tallgrass Energy Partners during the 2nd quarter valued at $495,000. 57.01% of the stock is currently owned by hedge funds and other institutional investors.
About Tallgrass Energy Partners
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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