US Capital Advisors Equities Analysts Cut Earnings Estimates for Tallgrass Energy Partners LP (TEP)

Tallgrass Energy Partners LP (NYSE:TEP) – US Capital Advisors reduced their Q3 2018 EPS estimates for shares of Tallgrass Energy Partners in a research report issued to clients and investors on Tuesday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.56 for the quarter, down from their previous estimate of $0.63. US Capital Advisors currently has a “Hold” rating on the stock. US Capital Advisors also issued estimates for Tallgrass Energy Partners’ FY2018 earnings at $2.12 EPS.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Tallgrass Energy Partners in a research note on Wednesday, February 14th. Stifel Nicolaus set a $47.00 target price on shares of Tallgrass Energy Partners and gave the stock a “buy” rating in a research note on Thursday, February 8th. Citigroup raised shares of Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. Robert W. Baird reaffirmed a “buy” rating on shares of Tallgrass Energy Partners in a research note on Thursday, December 7th. Finally, Scotiabank reaffirmed a “buy” rating and set a $50.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.44.

Shares of Tallgrass Energy Partners (TEP) traded down $0.41 on Thursday, reaching $38.89. 219,765 shares of the company’s stock traded hands, compared to its average volume of 533,445. The firm has a market capitalization of $2,955.81, a P/E ratio of 10.08 and a beta of 0.92. Tallgrass Energy Partners has a 1-year low of $35.37 and a 1-year high of $54.84. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 1.38.

Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings data on Tuesday, February 13th. The pipeline company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.25%. The business had revenue of $174.80 million during the quarter, compared to the consensus estimate of $185.17 million. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis.

Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Tallgrass Energy Partners by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 143 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Tallgrass Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after purchasing an additional 559 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of 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 purchasing an additional 600 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 worth $341,000 after purchasing an additional 1,117 shares during the last quarter. Finally, BB&T Securities LLC grew its stake in shares of Tallgrass Energy Partners by 5.7% in the fourth quarter. BB&T Securities LLC now owns 25,650 shares of the pipeline company’s stock worth $1,176,000 after purchasing an additional 1,375 shares during the last quarter. 62.10% of the stock is currently owned by institutional investors.

In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. acquired 31,501 shares of Tallgrass Energy Partners stock in a transaction that occurred on Monday, November 27th. The shares were bought at an average price of $42.50 per share, with a total value of $1,338,792.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 11,350 shares of Tallgrass Energy Partners stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average cost of $43.14 per share, for a total transaction of $489,639.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 48,890 shares of company stock worth $2,077,178.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.965 per share. This represents a $3.86 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date was Tuesday, January 30th. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s payout ratio is presently 98.97%.

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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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