Equities analysts expect Tallgrass Energy Partners (NYSE:TEP) to post $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tallgrass Energy Partners’ earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.74. Tallgrass Energy Partners reported earnings per share of $0.72 during the same quarter last year, which suggests a negative year-over-year growth rate of 22.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Tallgrass Energy Partners will report full year earnings of $2.43 per share for the current year, with EPS estimates ranging from $2.05 to $3.13. For the next year, analysts anticipate that the company will post earnings of $2.63 per share, with EPS estimates ranging from $1.94 to $3.33. Zacks’ EPS calculations are an average based on a survey of research firms that cover Tallgrass Energy Partners.
Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.33. Tallgrass Energy Partners had a net margin of 68.20% and a return on equity of 30.04%. The firm had revenue of $179.09 million during the quarter, compared to analysts’ expectations of $196.92 million.
A number of equities analysts have commented on the stock. Royal Bank of Canada lowered shares of Tallgrass Energy Partners from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 17th. Capital One lowered shares of Tallgrass Energy Partners from an “overweight” rating to an “equal weight” rating in a report on Friday, April 20th. Robert W. Baird set a $50.00 price objective on shares of Tallgrass Energy Partners and gave the stock a “buy” rating in a report on Thursday, April 5th. Morgan Stanley cut their price objective on shares of Tallgrass Energy Partners from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 28th. Finally, Stifel Nicolaus lowered shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Tallgrass Energy Partners presently has a consensus rating of “Hold” and an average target price of $46.63.
Tallgrass Energy Partners traded down $0.01, reaching $44.64, during trading on Friday, Marketbeat Ratings reports. 7,285 shares of the company’s stock were exchanged, compared to its average volume of 198,582. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 1.46. Tallgrass Energy Partners has a 52-week low of $34.37 and a 52-week high of $52.84. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 11.81 and a beta of 1.01.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were issued a $0.975 dividend. The ex-dividend date of this dividend was Friday, April 27th. This represents a $3.90 dividend on an annualized basis and a yield of 8.74%. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.97. Tallgrass Energy Partners’s payout ratio is currently 103.45%.
Hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at about $341,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at about $101,000. Oxbow Advisors LLC raised its stake in shares of Tallgrass Energy Partners by 1.6% in the 4th quarter. Oxbow Advisors LLC now owns 547,113 shares of the pipeline company’s stock valued at $25,085,000 after purchasing an additional 8,465 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at about $222,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at about $133,000. Hedge funds and other institutional investors own 58.02% of the company’s stock.
Tallgrass Energy Partners Company Profile
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.
Get a free copy of the Zacks research report on Tallgrass Energy Partners (TEP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tallgrass Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.