Tallgrass Energy Partners (TEP) PT Set at $48.00 by Stifel Nicolaus

Tallgrass Energy Partners (NYSE:TEP) has been given a $48.00 price objective by research analysts at Stifel Nicolaus in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.49% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Credit Suisse Group started coverage on shares of Tallgrass Energy Partners in a report on Thursday, January 4th. They issued a “neutral” rating on the stock. Barclays reissued a “hold” rating and issued a $55.00 price target on shares of Tallgrass Energy Partners in a report on Thursday, October 19th. Robert W. Baird reissued a “buy” rating on shares of Tallgrass Energy Partners in a report on Thursday, December 7th. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Scotiabank reissued a “buy” rating on shares of Tallgrass Energy Partners in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.33.

Shares of Tallgrass Energy Partners (TEP) traded up $1.45 during trading on Wednesday, hitting $39.51. 337,249 shares of the stock were exchanged, compared to its average volume of 492,371. Tallgrass Energy Partners has a 52-week low of $35.37 and a 52-week high of $55.50. The stock has a market capitalization of $2,759.63, a P/E ratio of 10.59 and a beta of 0.90. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55.

Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). Tallgrass Energy Partners had a return on equity of 27.58% and a net margin of 64.13%. The firm had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.17 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. equities research analysts expect that Tallgrass Energy Partners will post 3.89 EPS for the current year.

In related news, insider David G. Dehaemers, Jr. bought 31,501 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average cost of $42.50 per share, with a total value of $1,338,792.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David G. Dehaemers, Jr. bought 715 shares of the stock in a transaction that occurred on 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 disclosure for this purchase can be found here. Insiders purchased 64,605 shares of company stock worth $2,753,188 over the last ninety days.

A number of institutional investors and hedge funds have recently made changes to their positions in TEP. Bank of New York Mellon Corp raised its stake in Tallgrass Energy Partners by 19.7% in the second 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 in the last quarter. Alliancebernstein L.P. raised its stake in Tallgrass Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock valued at $500,000 after purchasing an additional 559 shares in the last quarter. California Public Employees Retirement System raised its stake in Tallgrass Energy Partners by 2.6% in the second quarter. California Public Employees Retirement System now owns 74,400 shares of the pipeline company’s stock valued at $3,727,000 after purchasing an additional 1,900 shares in the last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $107,000 after acquiring an additional 143 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Tallgrass Energy Partners by 3.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,627 shares of the pipeline company’s stock valued at $983,000 after acquiring an additional 600 shares during the last quarter. 61.82% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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