Tallgrass Energy Partners LP (NYSE:TEP) – Analysts at US Capital Advisors increased their Q3 2017 earnings per share estimates for Tallgrass Energy Partners in a research note issued to investors on Wednesday. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $1.63 per share for the quarter, up from their previous estimate of $1.61. US Capital Advisors also issued estimates for Tallgrass Energy Partners’ FY2017 earnings at $3.51 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.32 EPS.

Several other brokerages have also weighed in on TEP. Citigroup Inc lowered shares of Tallgrass Energy Partners from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 22nd. Stifel Nicolaus upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, February 21st. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, March 8th. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price target on shares of Tallgrass Energy Partners in a research note on Thursday, February 16th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Tallgrass Energy Partners in a research note on Wednesday, April 19th. They issued a “hold” rating and a $58.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $58.29.

Earnings History and Estimates for Tallgrass Energy Partners (NYSE:TEP)

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Shares of Tallgrass Energy Partners (NYSE:TEP) opened at 50.89 on Friday. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.08 and a beta of 1.00. The firm has a 50-day moving average of $51.16 and a 200 day moving average of $49.87. Tallgrass Energy Partners has a 52-week low of $42.54 and a 52-week high of $55.50.

Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.02. The company had revenue of $144.40 million during the quarter, compared to analyst estimates of $160.56 million. Tallgrass Energy Partners had a return on equity of 15.19% and a net margin of 39.93%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 6.56%. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Wednesday, April 26th. Tallgrass Energy Partners’s dividend payout ratio is presently 153.77%.

In other news, insider David G. Dehaemers, Jr. acquired 26,016 shares of Tallgrass Energy Partners stock in a transaction on Wednesday, May 10th. The shares were purchased at an average cost of $49.83 per share, for a total transaction of $1,296,377.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. acquired 5,000 shares of Tallgrass Energy Partners stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $49.75 per share, for a total transaction of $248,750.00. The disclosure for this purchase can be found here.

A number of large investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. increased its stake in shares of Tallgrass Energy Partners by 0.3% in the first quarter. Tocqueville Asset Management L.P. now owns 10,031 shares of the pipeline company’s stock worth $534,000 after buying an additional 26 shares during the last quarter. Country Club Trust Company n.a. increased its stake in shares of Tallgrass Energy Partners by 1.0% in the first quarter. Country Club Trust Company n.a. now owns 7,825 shares of the pipeline company’s stock worth $417,000 after buying an additional 77 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Tallgrass Energy Partners by 3.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,050 shares of the pipeline company’s stock worth $322,000 after buying an additional 205 shares during the last quarter. Pointe Capital Management LLC increased its stake in shares of Tallgrass Energy Partners by 1.1% in the third quarter. Pointe Capital Management LLC now owns 33,388 shares of the pipeline company’s stock worth $1,609,000 after buying an additional 375 shares during the last quarter. Finally, Koch Industries Inc. increased its stake in shares of Tallgrass Energy Partners by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock worth $283,000 after buying an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Tallgrass Energy Partners Company Profile

Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities.

12 Month Chart for NYSE:TEP

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