Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

TEP has been the topic of a number of other reports. Macquarie assumed coverage on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. They set an “outperform” rating and a $61.00 target price on the stock. Scotiabank reaffirmed a “buy” rating and set a $56.00 target price on shares of Tallgrass Energy Partners, in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Tallgrass Energy Partners, from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, March 8th. Mitsubishi UFJ Financial Group assumed coverage on shares of Tallgrass Energy Partners, in a research note on Wednesday, April 19th. They set a “hold” rating and a $58.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Tallgrass Energy Partners, presently has a consensus rating of “Hold” and a consensus target price of $58.29.

Tallgrass Energy Partners, (TEP) traded up 2.96% during mid-day trading on Friday, hitting $50.09. 704,121 shares of the stock were exchanged. The stock’s 50 day moving average is $48.48 and its 200 day moving average is $50.09. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50. The stock has a market cap of $3.63 billion, a PE ratio of 20.75 and a beta of 1.03.

Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $144.40 million during the quarter, compared to analysts’ expectations of $160.56 million. Tallgrass Energy Partners, had a return on equity of 18.77% and a net margin of 48.06%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. Analysts forecast that Tallgrass Energy Partners, will post $3.33 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TEP. Franklin Square Holdings L.P. acquired a new position in shares of Tallgrass Energy Partners, during the first quarter worth $239,000. State Street Corp boosted its position in shares of Tallgrass Energy Partners, by 11.1% in the fourth quarter. State Street Corp now owns 5,452 shares of the pipeline company’s stock worth $259,000 after buying an additional 543 shares during the period. Koch Industries Inc. boosted its position 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 period. Brown Advisory Inc. boosted its position in shares of Tallgrass Energy Partners, by 17.2% in the fourth quarter. Brown Advisory Inc. now owns 6,292 shares of the pipeline company’s stock worth $298,000 after buying an additional 925 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position 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 period. Hedge funds and other institutional investors own 65.52% of the company’s stock.

About Tallgrass Energy Partners,

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.

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

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