Tallgrass Energy Partners, LP (NYSE:TEP) insider Gary J. Brauchle bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $46.10 per share, with a total value of $138,300.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Tallgrass Energy Partners, LP (NYSE:TEP) traded down 2.40% during mid-day trading on Tuesday, reaching $45.91. 305,673 shares of the company’s stock traded hands. Tallgrass Energy Partners, LP has a 12 month low of $42.59 and a 12 month high of $55.50. The stock has a market cap of $3.36 billion, a PE ratio of 20.72 and a beta of 1.03. The firm has a 50 day moving average price of $50.23 and a 200-day moving average price of $50.81.

Tallgrass Energy Partners, (NYSE:TEP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.01. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The business had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. During the same quarter last year, the firm earned $0.92 EPS. Tallgrass Energy Partners,’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Tallgrass Energy Partners, LP will post $3.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 28th were issued a $0.925 dividend. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. This represents a $3.70 annualized dividend and a yield of 8.06%. The ex-dividend date was Wednesday, July 26th. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is currently 165.92%.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its position in Tallgrass Energy Partners, by 15.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock valued at $367,048,000 after buying an additional 995,864 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position 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 valued at $172,370,000 after buying an additional 204,708 shares in the last quarter. Bank of America Corp DE raised its position 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 valued at $88,095,000 after buying an additional 199,309 shares in the last quarter. Alps Advisors Inc. raised its position in Tallgrass Energy Partners, by 4.3% in the second quarter. Alps Advisors Inc. now owns 3,380,112 shares of the pipeline company’s stock valued at $169,310,000 after buying an additional 137,800 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Tallgrass Energy Partners, by 14.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock valued at $53,041,000 after buying an additional 133,102 shares in the last quarter. 66.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on TEP. Stifel Nicolaus reissued a “buy” rating and set a $69.00 target price on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Scotiabank set a $56.00 price objective on shares of Tallgrass Energy Partners, and gave the stock a “buy” rating in a report on Friday, July 21st. Mitsubishi UFJ Financial Group started coverage on shares of Tallgrass Energy Partners, in a report on Wednesday, April 19th. They set a “hold” rating and a $58.00 price objective on the stock. Zacks Investment Research cut shares of Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 target price on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Tallgrass Energy Partners, has an average rating of “Hold” and an average target price of $60.50.

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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