Tallgrass Energy Partners LP Plans Quarterly Dividend of $0.38 (TEP)
Tallgrass Energy Partners (NYSE:TEP) announced a quarterly dividend on Tuesday, July 1st, Analyst RN reports. Stockholders of record on Wednesday, July 30th will be paid a dividend of 0.38 per share on Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.92%.
On a related note, analysts at Credit Suisse reiterated an “outperform” rating on shares of Tallgrass Energy Partners in a research note on Thursday, May 8th. They now have a $40.00 price target on the stock, up previously from $32.00. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tallgrass Energy Partners currently has a consensus rating of “Buy” and an average price target of $35.70.
Tallgrass Energy Partners (NYSE:TEP) opened at 38.80 on Tuesday. Tallgrass Energy Partners has a 1-year low of $21.12 and a 1-year high of $40.22. The stock has a 50-day moving average of $37.64 and a 200-day moving average of $32.41. The company has a market cap of $1.586 billion and a P/E ratio of 112.62.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.08. The company had revenue of $85.00 million for the quarter, compared to the consensus estimate of $75.70 million. During the same quarter last year, the company posted $0.12 earnings per share. Tallgrass Energy Partners’s revenue was up 41.0% compared to the same quarter last year. On average, analysts predict that Tallgrass Energy Partners will post $1.24 earnings per share for the current fiscal year.
Tallgrass Energy Partners, LP is a limited partnership company. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through its Tallgrass Interstate Gas transportation system and processing services.
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