Investors Buy High Volume of Call Options on Tallgrass Energy Partners (TEP)
Tallgrass Energy Partners (NYSE:TEP) was the recipient of some unusual options trading on Wednesday. Traders bought 361 call options on the company, StockRatingsNetwork reports. This represents an increase of 105% compared to the average daily volume of 176 call options.
TEP has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Tallgrass Energy Partners from $39.60 to $42.50 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, 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, August 7th. They now have a $45.00 price target on the stock, up previously from $42.00. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $42.60.
Tallgrass Energy Partners (NYSE:TEP) traded up 0.05% during mid-day trading on Wednesday, hitting $40.93. The stock had a trading volume of 203,783 shares. Tallgrass Energy Partners has a 1-year low of $22.03 and a 1-year high of $43.50. The stock has a 50-day moving average of $40.67 and a 200-day moving average of $35.58. The company has a market cap of $2.003 billion and a P/E ratio of 35.45.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly 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. On average, analysts predict that Tallgrass Energy Partners will post $1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors 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 3.72%. The ex-dividend date is Monday, July 28th. This is an increase 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.
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