Equities analysts predict that Tallgrass Energy Partners LP (NYSE:TEP) will announce $196.92 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tallgrass Energy Partners’ earnings. The highest sales estimate is $201.60 million and the lowest is $192.24 million. Tallgrass Energy Partners reported sales of $144.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 36.4%. The company is expected to report its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that Tallgrass Energy Partners will report full-year sales of $844.36 million for the current financial year, with estimates ranging from $835.40 million to $853.32 million. For the next financial year, analysts anticipate that the company will report sales of $964.68 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Tallgrass Energy Partners.
Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.25%. The firm had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.17 million. During the same period last year, the business earned $0.51 EPS. Tallgrass Energy Partners’s revenue for the quarter was up 7.8% compared to the same quarter last year.
Several brokerages recently commented on TEP. Stifel Nicolaus set a $48.00 price target on shares of Tallgrass Energy Partners and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Scotiabank reiterated a “buy” rating and set a $50.00 price target on shares of Tallgrass Energy Partners in a research note on Thursday, February 15th. Barclays upgraded shares of Tallgrass Energy Partners from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $50.00 to $43.00 in a research note on Monday, February 12th. Royal Bank of Canada reiterated a “buy” rating and set a $45.00 price target on shares of Tallgrass Energy Partners in a research note on Wednesday, February 14th. Finally, Zacks Investment Research lowered shares of Tallgrass Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.22.
NYSE:TEP traded up $0.30 during midday trading on Monday, hitting $44.83. 224,363 shares of the company were exchanged, compared to its average volume of 426,826. Tallgrass Energy Partners has a fifty-two week low of $34.37 and a fifty-two week high of $52.96. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.52. The firm has a market capitalization of $3,259.58, a P/E ratio of 11.89 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be paid a $0.975 dividend. The ex-dividend date of this dividend is Friday, April 27th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a yield of 8.70%. Tallgrass Energy Partners’s payout ratio is currently 102.39%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC acquired a new position in Tallgrass Energy Partners in the fourth quarter valued at $101,000. The Manufacturers Life Insurance Company increased its stake in 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 valued at $107,000 after purchasing an additional 143 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Tallgrass Energy Partners by 207.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,520 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,700 shares during the period. Captrust Financial Advisors acquired a new position in Tallgrass Energy Partners in the fourth quarter valued at $133,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Tallgrass Energy Partners in the fourth quarter valued at $218,000. Institutional investors own 61.13% 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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