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Equities research analysts at Stifel Nicolaus increased their price target on shares of Tallgrass Energy Partners (NYSE:TEP) from $39.60 to $42.50 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 8.53% from the company’s current price.

Shares of Tallgrass Energy Partners (NYSE:TEP) traded up 2.53% during mid-day trading on Thursday, hitting $40.15. 59,664 shares of the company’s stock traded hands. Tallgrass Energy Partners has a 52 week low of $22.03 and a 52 week high of $43.50. The stock has a 50-day moving average of $40.5 and a 200-day moving average of $35.1. The company has a market cap of $1.642 billion and a P/E ratio of 113.84.

Tallgrass Energy Partners (NYSE:TEP) last released its earnings data on Wednesday, August 6th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.14. The company had revenue of $77.32 million for the quarter, compared to the consensus estimate of $75.74 million. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts expect that Tallgrass Energy Partners will post $1.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Monday, July 28th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.33.

TEP has been the subject of a number of other recent research reports. Analysts at Robert W. Baird upgraded shares of Tallgrass Energy Partners from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $45.00 price target on the stock, up previously from $42.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research note on Friday, July 25th. They now have a $46.50 price target on the stock, up previously from $38.50. Finally, analysts at Credit Suisse raised their price target on shares of Tallgrass Energy Partners from $40.00 to $45.00 in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tallgrass Energy Partners presently has a consensus rating of “Buy” and an average target price of $42.60.

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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