Tallgrass Energy Partners LP (NYSE:TEP) Stake Boosted by RR Advisors LLC

RR Advisors LLC grew its position in Tallgrass Energy Partners LP (NYSE:TEP) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,074,000 shares of the pipeline company’s stock after buying an additional 3,000 shares during the period. Tallgrass Energy Partners makes up about 7.0% of RR Advisors LLC’s investment portfolio, making the stock its 5th largest holding. RR Advisors LLC owned about 1.47% of Tallgrass Energy Partners worth $51,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Tallgrass Energy Partners by 15.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock valued at $367,048,000 after buying an additional 995,864 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of 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 worth $182,878,000 after purchasing an additional 438,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Tallgrass Energy Partners by 14.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock worth $53,041,000 after purchasing an additional 133,102 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Tallgrass Energy Partners by 17.6% in the third quarter. JPMorgan Chase & Co. now owns 871,105 shares of the pipeline company’s stock worth $41,081,000 after purchasing an additional 130,240 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of 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 worth $167,808,000 after purchasing an additional 110,060 shares during the period. 62.10% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO David G. Dehaemers, Jr. bought 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $463,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. purchased 6,039 shares of Tallgrass Energy Partners stock in a transaction on Wednesday, November 29th. The shares were acquired at an average cost of $41.19 per share, with a total value of $248,746.41. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 86,719 shares of company stock worth $3,753,147.

Tallgrass Energy Partners LP (TEP) opened at $45.44 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35. Tallgrass Energy Partners LP has a 1-year low of $41.13 and a 1-year high of $55.50. The stock has a market cap of $3,360.00, a PE ratio of 12.51 and a beta of 1.01.

TEP has been the subject of a number of research reports. Robert W. Baird restated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Thursday, December 7th. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Thursday, October 5th. BidaskClub lowered shares of Tallgrass Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Morgan Stanley lowered their price objective on shares of Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.11.

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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.

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

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