Tallgrass Energy Partners, LP (TEP) to Release Quarterly Earnings on Tuesday
Tallgrass Energy Partners, LP (NYSE:TEP) will announce its earnings results after the market closes on Tuesday, October 31st.
Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $158.93 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts expect Tallgrass Energy Partners, to post $3.83 EPS for the current fiscal year and $2.99 EPS for the next fiscal year.
Tallgrass Energy Partners, LP (TEP) opened at 45.49 on Tuesday. Tallgrass Energy Partners, LP has a 1-year low of $42.59 and a 1-year high of $55.50. The stock’s 50 day moving average is $47.51 and its 200-day moving average is $48.88. The firm has a market capitalization of $3.33 billion, a P/E ratio of 20.53 and a beta of 1.04.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.945 per share. The ex-dividend date is Monday, October 30th. This is an increase from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. This represents a $3.78 annualized dividend and a dividend yield of 8.31%. Tallgrass Energy Partners,’s payout ratio is presently 165.92%.
TEP has been the subject of several recent research reports. Scotiabank set a $56.00 target price on shares of Tallgrass Energy Partners, and gave the stock a “buy” rating in a research report on Friday, July 21st. Barclays PLC boosted their target price on shares of Tallgrass Energy Partners, from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Morgan Stanley reissued an “equal weight” rating and set a $59.00 target price (up from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. ValuEngine raised shares of Tallgrass Energy Partners, from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, BidaskClub raised shares of Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Tallgrass Energy Partners, currently has a consensus rating of “Hold” and a consensus price target of $59.33.
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In other news, insider David G. Dehaemers, Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $45.13 per share, for a total transaction of $451,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David G. Dehaemers, Jr. purchased 17,350 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $44.64 per share, for a total transaction of $774,504.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 30,350 shares of company stock worth $1,364,104.
An institutional investor recently raised its position in Tallgrass Energy Partners, stock. The Manufacturers Life Insurance Company increased its position in shares of Tallgrass Energy Partners, LP (NYSE:TEP) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,140 shares of the pipeline company’s stock after purchasing an additional 143 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Tallgrass Energy Partners, were worth $107,000 as of its most recent SEC filing. 62.11% of the stock is owned by hedge funds and other institutional investors.
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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