Tallgrass Energy Partners, LP (NYSE:TEP) has been assigned an average rating of “Hold” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $60.57.

A number of brokerages recently commented on TEP. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price objective 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 company a “buy” rating in a research report on Friday, July 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $59.00 price objective (up from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tallgrass Energy Partners, in a research report on Monday, July 31st. Finally, BidaskClub upgraded shares of Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st.

In other news, insider David G. Dehaemers, Jr. acquired 17,350 shares of Tallgrass Energy Partners, stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $44.64 per share, for a total transaction of $774,504.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 10,000 shares of Tallgrass Energy Partners, stock in a transaction dated Friday, August 18th. The stock was purchased at an average price of $45.13 per share, with a total value of $451,300.00. The disclosure for this purchase can be found here. Insiders acquired 30,350 shares of company stock valued at $1,364,104 over the last quarter.

Several institutional investors have recently modified their holdings of the company. Duff & Phelps Investment Management Co. lifted its stake in shares of Tallgrass Energy Partners, by 3.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 953,298 shares of the pipeline company’s stock worth $45,653,000 after buying an additional 30,000 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Tallgrass Energy Partners, by 17.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 95,200 shares of the pipeline company’s stock worth $4,559,000 after buying an additional 13,900 shares during the last quarter. Oxbow Advisors LLC lifted its stake in shares of Tallgrass Energy Partners, by 14.6% in the third quarter. Oxbow Advisors LLC now owns 538,648 shares of the pipeline company’s stock worth $25,796,000 after buying an additional 68,607 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Tallgrass Energy Partners, by 3.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,627 shares of the pipeline company’s stock worth $983,000 after buying an additional 600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Tallgrass Energy Partners, by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 62.11% of the company’s stock.

Tallgrass Energy Partners, (TEP) opened at 43.82 on Thursday. Tallgrass Energy Partners, has a 1-year low of $42.59 and a 1-year high of $55.50. The stock has a market cap of $3.21 billion, a P/E ratio of 19.77 and a beta of 1.04. The firm’s 50-day moving average is $47.36 and its 200-day moving average is $48.79.

Tallgrass Energy Partners, (NYSE:TEP) last announced 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 net margin of 46.63% and a return on equity of 20.47%. The company had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $158.93 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that Tallgrass Energy Partners, will post $4.00 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be paid a $0.945 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. This represents a $3.78 dividend on an annualized basis and a yield of 8.63%. Tallgrass Energy Partners,’s payout ratio is 165.92%.

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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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