Equities analysts expect Tallgrass Energy Partners LP (NYSE:TEP) to report $0.60 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Tallgrass Energy Partners’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.52. Tallgrass Energy Partners reported earnings of $0.72 per share in the same quarter last year, which indicates a negative year over year growth rate of 16.7%. The firm is expected to announce its next earnings report on Wednesday, August 1st.
On average, analysts expect that Tallgrass Energy Partners will report full year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.12 to $3.13. For the next year, analysts expect that the company will report earnings of $2.86 per share, with EPS estimates ranging from $2.39 to $3.33. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Tallgrass Energy Partners.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.33. The company had revenue of $179.09 million during the quarter, compared to the consensus estimate 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 equities analysts have recently issued reports on the company. Citigroup upped their price target on Tallgrass Energy Partners from $41.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research raised Tallgrass Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Robert W. Baird set a $50.00 price target on Tallgrass Energy Partners and gave the stock a “buy” rating in a research report on Thursday, April 5th. Stifel Nicolaus downgraded Tallgrass Energy Partners from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a research report on Wednesday, March 28th. Finally, Capital One Financial downgraded Tallgrass Energy Partners from an “overweight” rating to an “equal weight” rating in a research report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.63.
Shares of Tallgrass Energy Partners traded up $1.42, reaching $46.22, during trading hours on Friday, Marketbeat Ratings reports. 12,641 shares of the company’s stock were exchanged, compared to its average volume of 291,727. The company has a market cap of $3.28 billion, a PE ratio of 11.88 and a beta of 1.02. 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 fifty-two week low of $34.37 and a fifty-two week high of $52.84.
Several institutional investors and hedge funds have recently made changes to their positions in TEP. California Public Employees Retirement System grew its holdings in shares of Tallgrass Energy Partners by 3.1% during the fourth quarter. California Public Employees Retirement System now owns 76,950 shares of the pipeline company’s stock valued at $3,528,000 after buying an additional 2,300 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Tallgrass Energy Partners by 8.0% during the fourth quarter. First Trust Advisors LP now owns 128,495 shares of the pipeline company’s stock valued at $5,891,000 after buying an additional 9,466 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Tallgrass Energy Partners by 43.2% during the fourth quarter. Virtu Financial LLC now owns 12,312 shares of the pipeline company’s stock valued at $565,000 after buying an additional 3,714 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Tallgrass Energy Partners during the fourth quarter valued at $485,000. Finally, Icon Wealth Partners LLC purchased a new stake in shares of Tallgrass Energy Partners during the fourth quarter valued at $341,000. 57.01% of the stock is currently owned by hedge funds and other institutional investors.
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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