Robert W. Baird Reiterates “Buy” Rating for Tallgrass Energy Partners (TEP)

Tallgrass Energy Partners (NYSE:TEP)‘s stock had its “buy” rating reiterated by analysts at Robert W. Baird in a note issued to investors on Thursday.

TEP has been the topic of a number of other reports. Morgan Stanley cut their price objective on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Zacks Investment Research raised Tallgrass Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Scotiabank reissued a “buy” rating on shares of Tallgrass Energy Partners in a research note on Wednesday, October 25th. Barclays reissued a “hold” rating and issued a $55.00 price objective on shares of Tallgrass Energy Partners in a research note on Thursday, October 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Tallgrass Energy Partners in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.11.

Shares of Tallgrass Energy Partners (NYSE TEP) opened at $44.27 on Thursday. The stock has a market capitalization of $3,280.00, a PE ratio of 11.73 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. Tallgrass Energy Partners has a 1-year low of $41.13 and a 1-year high of $55.50.

In other news, CEO David G. Dehaemers, Jr. acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $46.35 per share, with a total value of $463,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider David G. Dehaemers, Jr. acquired 6,039 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $41.19 per share, for a total transaction of $248,746.41. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 86,719 shares of company stock worth $3,753,147.

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Tallgrass Energy Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 143 shares in the last quarter. Ffcm LLC grew its holdings in shares of Tallgrass Energy Partners by 217.7% during the 2nd quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 1,548 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Tallgrass Energy Partners by 300.3% during the 2nd quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 2,144 shares in the last quarter. Doliver Capital Advisors LP acquired a new stake in shares of Tallgrass Energy Partners during the 2nd quarter worth approximately $216,000. Finally, Green Square Capital LLC acquired a new stake in shares of Tallgrass Energy Partners during the 2nd quarter worth approximately $258,000. 62.10% of the stock is currently owned by institutional investors.

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About Tallgrass Energy Partners

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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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