Tallgrass Energy Partners LP (TEP) Expected to Announce Earnings of $0.68 Per Share
Brokerages expect Tallgrass Energy Partners LP (NYSE:TEP) to post earnings of $0.68 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tallgrass Energy Partners’ earnings. The lowest EPS estimate is $0.59 and the highest is $0.77. Tallgrass Energy Partners reported earnings per share of $0.60 during the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The firm is expected to report its next earnings report on Wednesday, February 21st.
On average, analysts expect that Tallgrass Energy Partners will report full-year earnings of $3.86 per share for the current year, with EPS estimates ranging from $3.65 to $4.02. For the next year, analysts expect that the business will report earnings of $2.95 per share, with EPS estimates ranging from $2.27 to $4.54. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Tallgrass Energy Partners.
Several equities analysts have recently weighed in on the company. Barclays reissued a “hold” rating and set a $55.00 target price on shares of Tallgrass Energy Partners in a research report on Thursday, October 19th. ValuEngine raised Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Tallgrass Energy Partners in a research report on Thursday, August 24th. Zacks Investment Research downgraded Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research report on Saturday, October 14th. Finally, Morgan Stanley cut their price objective on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.11.
In other news, insider David G. Dehaemers, Jr. acquired 715 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $44.00 per share, with a total value of $31,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 31,501 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $42.50 per share, for a total transaction of $1,338,792.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 86,719 shares of company stock valued at $3,753,147 over the last 90 days.
Several hedge funds have recently made changes to their positions in TEP. Alps Advisors Inc. increased its holdings in shares of Tallgrass Energy Partners by 13.0% in the third 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 period. Tortoise Capital Advisors L.L.C. grew its holdings in Tallgrass Energy Partners by 2.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock worth $360,268,000 after acquiring an additional 195,068 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Tallgrass Energy Partners by 14.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock worth $53,041,000 after acquiring an additional 133,102 shares during the period. JPMorgan Chase & Co. grew its holdings in Tallgrass Energy Partners by 17.6% during the third quarter. JPMorgan Chase & Co. now owns 871,105 shares of the pipeline company’s stock worth $41,081,000 after acquiring an additional 130,240 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its holdings in Tallgrass Energy Partners by 3.4% during the second quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock worth $167,808,000 after acquiring an additional 110,060 shares during the period. 62.10% of the stock is currently owned by institutional investors and hedge funds.
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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.
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