Tallgrass Energy Partners Hits New 1-Year High at $41.63 (TEP)
Tallgrass Energy Partners (NYSE:TEP)’s share price hit a new 52-week high during mid-day trading on Friday , Analyst Ratings Network.com reports. The company traded as high as $41.63 and last traded at $41.54, with a volume of 27,300 shares traded. The stock had previously closed at $40.87.
Separately, 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 assigned a buy rating to the company. Tallgrass Energy Partners presently has a consensus rating of “Buy” and an average target price of $35.70.
The stock has a 50-day moving average of $38. and a 200-day moving average of $32.65. The company has a market cap of $1.698 billion and a price-to-earnings ratio of 118.81.
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. Analysts expect that Tallgrass Energy Partners will post $1.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, July 28th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.33.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.