Starfire Investment Advisers Inc. acquired a new position in shares of Tallgrass Energy Partners LP (NYSE:TEP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,262 shares of the pipeline company’s stock, valued at approximately $1,067,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of TEP. Bank of New York Mellon Corp grew its position in 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 valued at $341,000 after purchasing an additional 1,117 shares during the period. Wells Fargo & Company MN boosted its holdings in Tallgrass Energy Partners by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 159,421 shares of the pipeline company’s stock worth $7,984,000 after acquiring an additional 6,401 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Tallgrass Energy Partners by 5.9% during the 2nd 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 last quarter. PNC Financial Services Group Inc. boosted its holdings in Tallgrass Energy Partners by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 62,969 shares of the pipeline company’s stock worth $3,155,000 after acquiring an additional 2,381 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Tallgrass Energy Partners during the 2nd quarter worth $2,026,000. 62.04% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on TEP. ValuEngine cut Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. Royal Bank of Canada restated a “buy” rating and issued a $55.00 price objective on shares of Tallgrass Energy Partners in a research note on Tuesday, January 16th. Citigroup upgraded Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley decreased their price target on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Tallgrass Energy Partners presently has an average rating of “Hold” and an average target price of $58.56.
Tallgrass Energy Partners LP (NYSE:TEP) opened at $43.26 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. The company has a market capitalization of $3,166.63, a P/E ratio of 11.69 and a beta of 0.90. Tallgrass Energy Partners LP has a twelve month low of $41.13 and a twelve month high of $55.50.
Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share (EPS) 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%. research analysts expect that Tallgrass Energy Partners LP will post 3.93 EPS for the current year.
The company 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. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $3.86 dividend on an annualized basis and a yield of 8.92%. Tallgrass Energy Partners’s dividend payout ratio is 103.21%.
In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. acquired 11,350 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average cost of $43.14 per share, with a total value of $489,639.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 715 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $44.00 per share, for a total transaction of $31,460.00. 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.
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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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