US Capital Advisors cut shares of Tallgrass Energy Partners (NYSE:TEP) from an overweight rating to a hold rating in a research report report published on Thursday, January 4th. US Capital Advisors also issued estimates for Tallgrass Energy Partners’ Q4 2017 earnings at $0.65 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.06 EPS and FY2019 earnings at $2.46 EPS.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $64.00 price objective on shares of Tallgrass Energy Partners in a report on Thursday, October 12th. ValuEngine upgraded Tallgrass Energy Partners from a hold rating to a buy rating in a report on Friday, October 6th. Zacks Investment Research upgraded Tallgrass Energy Partners from a hold rating to a buy rating and set a $54.00 price objective for the company in a report on Thursday, October 5th. Scotiabank restated a buy rating on shares of Tallgrass Energy Partners in a report on Wednesday, October 25th. 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 issued a hold rating and six have given a buy rating to the company. Tallgrass Energy Partners presently has an average rating of Hold and an average target price of $59.11.
Shares of Tallgrass Energy Partners (NYSE TEP) traded down $0.10 during midday trading on Thursday, reaching $45.55. The company’s stock had a trading volume of 487,400 shares, compared to its average volume of 500,257. Tallgrass Energy Partners has a fifty-two week low of $41.13 and a fifty-two week high of $55.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.50. The company has a market cap of $3,450.00, a price-to-earnings ratio of 12.18 and a beta of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a $0.965 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $3.86 annualized dividend and a yield of 8.47%. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s dividend payout ratio (DPR) is 68.98%.
In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. acquired 31,501 shares of the company’s stock in a transaction on Monday, November 27th. The stock was acquired at an average price of $42.50 per share, for a total transaction of $1,338,792.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David G. Dehaemers, Jr. bought 1,688 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $44.99 per share, with a total value of $75,943.12. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 86,719 shares of company stock valued at $3,753,147.
Several large investors have recently made changes to their positions in TEP. The Manufacturers Life Insurance Company raised its position in shares of Tallgrass Energy Partners by 7.2% in the 2nd 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 in the last quarter. Ffcm LLC raised its position in shares of Tallgrass Energy Partners by 217.7% in the 2nd quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock worth $115,000 after acquiring an additional 1,548 shares in the last quarter. Doliver Capital Advisors LP bought a new position in shares of Tallgrass Energy Partners in the 2nd quarter worth approximately $216,000. Green Square Capital LLC bought a new position in shares of Tallgrass Energy Partners in the 2nd quarter worth approximately $258,000. Finally, Bank of New York Mellon Corp raised its position in shares of Tallgrass Energy Partners by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 1,117 shares in the last quarter. 62.09% of the stock is owned by hedge funds and other 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.
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