Tallgrass Energy Partners LP (NYSE:TEP) insider David G. Dehaemers, Jr. acquired 11,350 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $43.14 per share, with a total value of $489,639.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tallgrass Energy Partners LP (NYSE TEP) traded down $0.47 during midday trading on Wednesday, hitting $44.21. 260,300 shares of the stock traded hands, compared to its average volume of 228,977. Tallgrass Energy Partners LP has a 1-year low of $41.13 and a 1-year high of $55.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.50. The firm has a market cap of $3,270.56, a price-to-earnings ratio of 12.08 and a beta of 0.99.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a $0.945 dividend. The ex-dividend date of this dividend was Monday, October 30th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.93. This represents a $3.78 annualized dividend and a dividend yield of 8.55%. Tallgrass Energy Partners’s payout ratio is 98.93%.

TEP has been the subject of several recent analyst reports. BidaskClub lowered shares of Tallgrass Energy Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Robert W. Baird reissued a “buy” rating and set a $67.00 price objective on shares of Tallgrass Energy Partners in a report on Thursday, August 24th. Zacks Investment Research raised shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Thursday, October 5th. ValuEngine raised shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Tallgrass Energy Partners in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.11.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Tallgrass Energy Partners by 2.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after buying an additional 195,068 shares during the period. Alps Advisors Inc. lifted its position in Tallgrass Energy Partners by 13.0% in the 3rd quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock valued at $182,878,000 after purchasing an additional 438,600 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Tallgrass Energy Partners by 3.4% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock valued at $167,808,000 after purchasing an additional 110,060 shares during the last quarter. Harvest Fund Advisors LLC lifted its position in Tallgrass Energy Partners by 6.1% in the 3rd quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock valued at $89,746,000 after purchasing an additional 107,897 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Tallgrass Energy Partners by 2.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,084,722 shares of the pipeline company’s stock valued at $51,947,000 after purchasing an additional 25,818 shares during the last quarter. 62.10% of the stock is owned by institutional investors and hedge funds.

WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another website, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/12/06/tallgrass-energy-partners-lp-tep-insider-purchases-489639-00-in-stock.html.

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.

Insider Buying and Selling by Quarter for Tallgrass Energy Partners (NYSE:TEP)

Receive News & Ratings for Tallgrass Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.