Stock Traders Purchase High Volume of Put Options on Tallgrass Energy Partners (TEP)
Tallgrass Energy Partners (NYSE:TEP) saw some unusual options trading activity on Wednesday. Stock traders acquired 650 put options on the company, Stock Ratings News reports. This is an increase of approximately 287% compared to the typical volume of 168 put options.
Several analysts have recently commented on the stock. 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 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 has an average rating of “Buy” and a consensus target price of $42.60.
Tallgrass Energy Partners (NYSE:TEP) traded up 0.05% on Wednesday, hitting $40.93. 203,783 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 $40.67 and a 200-day moving average of $35.58. The company has a market cap of $2.003 billion and a price-to-earnings ratio of 35.45.
Tallgrass Energy Partners (NYSE:TEP) last announced its earnings results on Wednesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ 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. Tallgrass Energy Partners’s revenue was up 11.5% compared to the same quarter last year. 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. 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 3.72%. 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.