Tallgrass Energy Partners, LP (NYSE:TEP)‘s stock had its “buy” rating restated by research analysts at Scotiabank in a research report issued on Friday. They currently have a $56.00 price target on the pipeline company’s stock. Scotiabank’s price target suggests a potential upside of 8.44% from the stock’s previous close.

A number of other equities analysts have also weighed in on TEP. Stifel Nicolaus reiterated a “buy” rating and set a $69.00 target price on shares of Tallgrass Energy Partners, in a research note on Friday, July 14th. Morgan Stanley reiterated an “equal weight” rating and set a $59.00 target price (up previously from $57.00) on shares of Tallgrass Energy Partners, in a research note on Friday, July 14th. BidaskClub upgraded Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. Finally, Macquarie began coverage on 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Tallgrass Energy Partners, currently has an average rating of “Hold” and an average price target of $59.56.

Shares of Tallgrass Energy Partners, (TEP) opened at 51.64 on Friday. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50. The stock’s 50 day moving average price is $48.79 and its 200-day moving average price is $50.60. The company has a market capitalization of $3.74 billion, a PE ratio of 21.39 and a beta of 1.03.

Tallgrass Energy Partners, (NYSE:TEP) last announced its earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.02. The firm had revenue of $144.40 million for the quarter, compared to the consensus estimate of $160.56 million. Tallgrass Energy Partners, had a return on equity of 18.77% and a net margin of 48.06%. Tallgrass Energy Partners,’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, analysts expect that Tallgrass Energy Partners, will post $3.40 earnings per share for the current year.

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In related news, insider David G. Dehaemers, Jr. acquired 5,000 shares of the 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 26,016 shares of the stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $49.83 per share, for a total transaction of $1,296,377.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 91,290 shares of company stock worth $4,406,923.

A number of institutional investors have recently bought and sold shares of TEP. Franklin Square Holdings L.P. bought a new position in Tallgrass Energy Partners, during the first quarter worth approximately $239,000. Koch Industries Inc. raised its position in 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. Chicago Partners Investment Group LLC raised its position in 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. Wade G W & Inc. bought a new position in Tallgrass Energy Partners, during the first quarter worth approximately $332,000. Finally, Clinton Group Inc. bought a new position in Tallgrass Energy Partners, during the first quarter worth approximately $349,000. Hedge funds and other institutional investors own 65.54% 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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