Wall Street analysts forecast that Tallgrass Energy Partners, LP (NYSE:TEP) will report $151.71 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tallgrass Energy Partners,’s earnings, with the highest sales estimate coming in at $152.80 million and the lowest estimate coming in at $150.61 million. Tallgrass Energy Partners, posted sales of $146.93 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.

According to Zacks, analysts expect that Tallgrass Energy Partners, will report full-year sales of $151.71 million for the current year, with estimates ranging from $615.80 million to $650.00 million. For the next financial year, analysts expect that the firm will report sales of $684.30 million per share, with estimates ranging from $659.00 million to $700.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Tallgrass Energy Partners,.

Tallgrass Energy Partners, (NYSE:TEP) last released 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. Tallgrass Energy Partners, had a net margin of 48.06% and a return on equity of 18.77%. The firm had revenue of $144.40 million for the quarter, compared to the consensus estimate of $160.56 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year.

Several analysts have issued reports on TEP shares. Mitsubishi UFJ Financial Group started coverage on Tallgrass Energy Partners, in a research report on Wednesday, April 19th. They set a “hold” rating and a $58.00 target price on the stock. Zacks Investment Research cut Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Macquarie started coverage on Tallgrass Energy Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $61.00 target price on the stock. BidaskClub raised Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. 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 report on Friday, April 21st. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.56.

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In other news, insider David G. Dehaemers, Jr. bought 35,783 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Wednesday, June 7th. The stock was bought at an average price of $46.47 per share, for a total transaction of $1,662,836.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David G. Dehaemers, Jr. bought 4,021 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Tuesday, June 6th. The stock was purchased at an average price of $47.30 per share, with a total value of $190,193.30. The disclosure for this purchase can be found here. Insiders purchased a total of 91,290 shares of company stock valued at $4,406,923 in the last 90 days.

A number of institutional investors have recently modified their holdings of TEP. Catawba Capital Management VA raised its position in shares of Tallgrass Energy Partners, by 19.2% in the first quarter. Catawba Capital Management VA now owns 12,440 shares of the pipeline company’s stock worth $662,000 after buying an additional 2,000 shares during the period. Creative Planning raised its position in shares of Tallgrass Energy Partners, by 13.2% in the first quarter. Creative Planning now owns 18,039 shares of the pipeline company’s stock worth $960,000 after buying an additional 2,107 shares during the period. Country Club Trust Company n.a. raised its position 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 period. Bank of Montreal Can raised its position in shares of Tallgrass Energy Partners, by 2.8% in the first quarter. Bank of Montreal Can now owns 50,285 shares of the pipeline company’s stock worth $2,675,000 after buying an additional 1,372 shares during the period. Finally, Spirit of America Management Corp NY raised its position in shares of Tallgrass Energy Partners, by 7.4% in the first quarter. Spirit of America Management Corp NY now owns 268,582 shares of the pipeline company’s stock worth $14,289,000 after buying an additional 18,600 shares during the period. Institutional investors own 65.54% of the company’s stock.

Tallgrass Energy Partners, (NYSE TEP) traded down 0.93% during midday trading on Thursday, hitting $51.26. The company had a trading volume of 53,660 shares. The company has a market capitalization of $3.71 billion, a P/E ratio of 21.23 and a beta of 1.03. The stock has a 50 day moving average price of $48.73 and a 200 day moving average price of $50.60. Tallgrass Energy Partners, has a 52 week low of $42.59 and a 52 week high of $55.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, July 28th will be given a $0.925 dividend. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, July 26th. This represents a $3.70 dividend on an annualized basis and a dividend yield of 7.15%. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is presently 137.45%.

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.

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

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