Tallgrass Energy Partners (TEP) Cut to “Hold” at ValuEngine

ValuEngine cut shares of Tallgrass Energy Partners (NYSE:TEP) from a buy rating to a hold rating in a report issued on Sunday, December 31st.

Other research analysts have also issued research reports about the company. Scotiabank reiterated a buy rating on shares of Tallgrass Energy Partners in a report on Wednesday, October 25th. Barclays restated a hold rating and issued a $55.00 target price on shares of Tallgrass Energy Partners in a report on Thursday, October 19th. Stifel Nicolaus restated a buy rating and issued a $64.00 target price on shares of Tallgrass Energy Partners in a report on Thursday, October 12th. Zacks Investment Research lowered Tallgrass Energy Partners from a buy rating to a hold rating in a report on Saturday, October 14th. Finally, Robert W. Baird restated a buy rating on shares of Tallgrass Energy Partners in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $59.11.

Shares of Tallgrass Energy Partners (NYSE:TEP) traded up $0.54 during trading hours on Friday, reaching $46.09. The company’s stock had a trading volume of 536,305 shares, compared to its average volume of 500,257. The company has a market capitalization of $3,410.00, a price-to-earnings ratio of 12.32 and a beta of 1.01. 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 has a 1-year low of $41.13 and a 1-year high of $55.50.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s dividend payout ratio (DPR) is currently 68.98%.

In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. purchased 31,501 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average cost of $42.50 per share, for a total transaction of $1,338,792.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David G. Dehaemers, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average price of $46.35 per share, for a total transaction of $463,500.00. The disclosure for this purchase can be found here. Insiders bought 86,719 shares of company stock worth $3,753,147 in the last 90 days.

A number of institutional investors have recently modified their holdings of the stock. CNH Partners LLC lifted its holdings in Tallgrass Energy Partners by 0.9% during the second quarter. CNH Partners LLC now owns 11,360 shares of the pipeline company’s stock worth $569,000 after acquiring an additional 100 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Tallgrass Energy Partners by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after acquiring an additional 143 shares during the period. Stephens Inc. AR lifted its holdings in Tallgrass Energy Partners by 1.9% during the second quarter. Stephens Inc. AR now owns 18,335 shares of the pipeline company’s stock worth $918,000 after acquiring an additional 339 shares during the period. Alliancebernstein L.P. lifted its holdings in Tallgrass Energy Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after acquiring an additional 559 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Tallgrass Energy Partners by 3.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,627 shares of the pipeline company’s stock worth $983,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 62.09% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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