Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Scotiabank reiterated a “buy” rating and set a $56.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. Zacks Investment Research upgraded Tallgrass Energy Partners, from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, March 8th. Mitsubishi UFJ Financial Group started coverage on Tallgrass Energy Partners, in a report on Wednesday, April 19th. They set a “hold” rating and a $58.00 price target for the company. Finally, Macquarie started coverage on shares of Tallgrass Energy Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $61.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.29.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

Shares of Tallgrass Energy Partners, (NYSE TEP) traded up 1.84% on Friday, hitting $47.01. The stock had a trading volume of 311,396 shares. The company has a market capitalization of $3.41 billion, a P/E ratio of 19.47 and a beta of 1.03. The firm has a 50 day moving average price of $48.97 and a 200 day moving average price of $50.10. Tallgrass Energy Partners, has a one year low of $42.54 and a one year 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 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.02. Tallgrass Energy Partners, had a return on equity of 18.77% and a net margin of 48.06%. The business had revenue of $144.40 million for the quarter, compared to the consensus estimate of $160.56 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Tallgrass Energy Partners, will post $3.34 earnings per share for the current fiscal year.

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In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $49.75 per share, for a total transaction of $248,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David G. Dehaemers, Jr. purchased 35,783 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average price of $46.47 per share, with a total value of $1,662,836.01. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 91,290 shares of company stock valued at $4,406,923.

Several large investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP increased its stake in Tallgrass Energy Partners, by 6.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,240,249 shares of the pipeline company’s stock worth $172,370,000 after buying an additional 204,708 shares during the last quarter. Renaissance Technologies LLC increased its stake in Tallgrass Energy Partners, by 186.4% in the fourth quarter. Renaissance Technologies LLC now owns 307,900 shares of the pipeline company’s stock worth $14,610,000 after buying an additional 200,400 shares during the last quarter. Bank of America Corp DE increased its stake in Tallgrass Energy Partners, by 13.7% in the first quarter. Bank of America Corp DE now owns 1,655,913 shares of the pipeline company’s stock worth $88,095,000 after buying an additional 199,309 shares during the last quarter. Tiedemann Wealth Management LLC increased its stake in Tallgrass Energy Partners, by 72.3% in the first quarter. Tiedemann Wealth Management LLC now owns 313,442 shares of the pipeline company’s stock worth $12,621,000 after buying an additional 131,557 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Tallgrass Energy Partners, by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 799,101 shares of the pipeline company’s stock worth $42,512,000 after buying an additional 108,974 shares during the last quarter. Institutional investors own 65.52% 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.

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