Equities analysts expect Tallgrass Energy Partners (NYSE:TEP) to report sales of $206.41 million for the current quarter, according to Zacks. Two analysts have made estimates for Tallgrass Energy Partners’ earnings, with the highest sales estimate coming in at $212.31 million and the lowest estimate coming in at $200.50 million. Tallgrass Energy Partners reported sales of $160.86 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 28.3%. The firm is expected to issue its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Tallgrass Energy Partners will report full year sales of $824.86 million for the current fiscal year, with estimates ranging from $796.40 million to $853.32 million. For the next year, analysts expect that the firm will post sales of $917.94 million per share, with estimates ranging from $871.20 million to $964.68 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Tallgrass Energy Partners.
Tallgrass Energy Partners (NYSE:TEP) last posted its earnings results on Thursday, May 3rd. The pipeline company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.33. The company had revenue of $179.09 million during the quarter, compared to analyst estimates of $196.92 million. Tallgrass Energy Partners had a net margin of 68.20% and a return on equity of 30.04%.
A number of analysts have recently weighed in on the stock. Stifel Nicolaus set a $48.00 target price on shares of Tallgrass Energy Partners and gave the stock a “buy” rating in a report on Wednesday, February 14th. Barclays upgraded shares of Tallgrass Energy Partners from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $50.00 to $43.00 in a report on Monday, February 12th. Scotiabank reiterated a “buy” rating and set a $50.00 target price on shares of Tallgrass Energy Partners in a report on Thursday, February 15th. Robert W. Baird reiterated a “buy” rating and set a $56.00 target price on shares of Tallgrass Energy Partners in a report on Friday, February 16th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $45.00 target price on shares of Tallgrass Energy Partners in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.63.
A number of hedge funds have recently added to or reduced their stakes in TEP. Tortoise Capital Advisors L.L.C. raised its stake in Tallgrass Energy Partners by 17.5% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 8,864,756 shares of the pipeline company’s stock worth $335,886,000 after buying an additional 1,323,227 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Tallgrass Energy Partners by 39.4% in the first quarter. OppenheimerFunds Inc. now owns 4,636,357 shares of the pipeline company’s stock worth $175,672,000 after buying an additional 1,310,055 shares in the last quarter. Atlantic Trust Group LLC raised its stake in Tallgrass Energy Partners by 45.9% in the first quarter. Atlantic Trust Group LLC now owns 942,849 shares of the pipeline company’s stock worth $35,724,000 after buying an additional 296,466 shares in the last quarter. Wells Fargo & Company MN raised its stake in Tallgrass Energy Partners by 163.4% in the first quarter. Wells Fargo & Company MN now owns 278,692 shares of the pipeline company’s stock worth $10,560,000 after buying an additional 172,875 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC bought a new position in Tallgrass Energy Partners in the first quarter worth about $5,412,000. 58.79% of the stock is owned by institutional investors.
Tallgrass Energy Partners opened at $43.47 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 1.46. The stock has a market cap of $3.17 billion, a PE ratio of 11.53 and a beta of 1.01. Tallgrass Energy Partners has a 1-year low of $34.37 and a 1-year high of $52.84.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a $0.975 dividend. This is an increase 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 8.97%. The ex-dividend date was Friday, April 27th. Tallgrass Energy Partners’s dividend payout ratio is presently 103.45%.
About Tallgrass Energy Partners
Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. It operates through Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling segments. The Natural Gas Transportation segment engages in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,641 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska.
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