Robert W. Baird set a $50.00 price target on Tallgrass Energy Partners (NYSE:TEP) in a report issued on Thursday. The firm currently has a buy rating on the pipeline company’s stock.
TEP has been the topic of a number of other reports. Royal Bank of Canada restated a buy rating and issued a $55.00 price target on shares of Tallgrass Energy Partners in a research note on Tuesday, January 16th. Citigroup upgraded shares of Tallgrass Energy Partners from a neutral rating to a buy rating in a research note on Tuesday, January 9th. Morgan Stanley reduced their price target on shares of Tallgrass Energy Partners from $48.00 to $42.00 and set an equal weight rating on the stock in a research note on Wednesday, March 28th. Credit Suisse Group started coverage on shares of Tallgrass Energy Partners in a research report on Thursday, January 4th. They set a neutral rating on the stock. Finally, Stifel Nicolaus downgraded shares of Tallgrass Energy Partners from a buy rating to a hold rating and set a $48.00 target price on the stock. in a research report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $49.20.
TEP opened at $39.24 on Thursday. Tallgrass Energy Partners has a 1-year low of $34.37 and a 1-year high of $54.08. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.52 and a current ratio of 0.60. The company has a market capitalization of $2,858.45, a PE ratio of 10.41 and a beta of 1.02.
Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.25%. The company had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.17 million. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. analysts expect that Tallgrass Energy Partners will post 2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, April 27th. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.97. This represents a $3.90 annualized dividend and a yield of 9.94%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is currently 102.39%.
A number of large investors have recently bought and sold shares of TEP. Prime Capital Investment Advisors LLC acquired a new stake in Tallgrass Energy Partners during the 4th quarter worth approximately $101,000. The Manufacturers Life Insurance Company boosted its position in Tallgrass Energy Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after buying an additional 143 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Tallgrass Energy Partners by 207.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,520 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 1,700 shares during the last quarter. Captrust Financial Advisors bought a new position in Tallgrass Energy Partners during the 4th quarter worth approximately $133,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Tallgrass Energy Partners during the 4th quarter worth approximately $218,000. Institutional investors and hedge funds own 61.12% 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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