Tallgrass Energy Partners LP (NYSE:TEP) – Stock analysts at US Capital Advisors raised their FY2017 earnings per share (EPS) estimates for Tallgrass Energy Partners in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $3.85 for the year, up from their previous forecast of $3.65. US Capital Advisors currently has a “Hold” rating on the stock.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.01. Tallgrass Energy Partners had a return on equity of 27.58% and a net margin of 64.13%.
TEP has been the topic of a number of other research reports. Royal Bank of Canada reissued a “buy” rating and set a $55.00 price target on shares of Tallgrass Energy Partners in a research note on Tuesday, January 16th. Citigroup raised Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. ValuEngine raised Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research raised Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, October 5th. Finally, Credit Suisse Group started coverage on Tallgrass Energy Partners in a research report on Thursday, January 4th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.56.
Shares of Tallgrass Energy Partners (NYSE:TEP) traded up $0.33 during trading on Monday, hitting $44.33. The company’s stock had a trading volume of 380,671 shares, compared to its average volume of 373,270. Tallgrass Energy Partners has a one year low of $41.13 and a one year high of $55.50. The stock has a market cap of $3,280.00, a price-to-earnings ratio of 11.85 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.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a $0.965 dividend. 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. This represents a $3.86 annualized dividend and a yield of 8.71%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is 103.21%.
In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. bought 715 shares of the stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $44.00 per share, for a total transaction of $31,460.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David G. Dehaemers, Jr. bought 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average price of $46.35 per share, with a total value of $463,500.00. The disclosure for this purchase can be found here. Insiders have bought 86,719 shares of company stock valued at $3,753,147 over the last 90 days.
A number of large investors have recently bought and sold shares of TEP. Alps Advisors Inc. grew its stake in 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 in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Tallgrass Energy Partners by 2.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock worth $360,268,000 after purchasing an additional 195,068 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 in the last quarter. Harvest Fund Advisors LLC grew its stake in Tallgrass Energy Partners by 6.1% in the third quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after purchasing an additional 107,897 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new position in Tallgrass Energy Partners in the third quarter worth about $4,900,000. Institutional investors and hedge funds own 62.04% 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.
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