Tallgrass Energy Partners (NYSE:TEP) was downgraded by analysts at US Capital Advisors to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Other analysts have also issued reports about the company. Barclays restated a “hold” rating and issued a $55.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, October 19th. ValuEngine upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. Morgan Stanley lowered their target price on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Finally, Robert W. Baird restated a “buy” rating on shares of Tallgrass Energy Partners in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.11.
Shares of Tallgrass Energy Partners (NYSE TEP) traded up $0.08 during midday trading on Thursday, hitting $46.46. The company’s stock had a trading volume of 553,200 shares, compared to its average volume of 484,750. The company has a market capitalization of $3,440.00, a PE ratio of 12.42 and a beta of 1.01. Tallgrass Energy Partners has a 12 month low of $41.13 and a 12 month high of $55.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55.
In related news, CEO David G. Dehaemers, Jr. bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $463,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David G. Dehaemers, Jr. bought 715 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $44.00 per share, with a total value of $31,460.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 86,719 shares of company stock valued at $3,753,147.
Institutional investors have recently bought and sold shares of the company. Balentine LLC acquired a new stake in shares of Tallgrass Energy Partners in the second quarter valued at about $101,000. The Manufacturers Life Insurance Company increased 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 valued at $107,000 after buying an additional 143 shares during the period. Ffcm LLC increased its stake in shares of Tallgrass Energy Partners by 217.7% in the second quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock valued at $115,000 after buying an additional 1,548 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Tallgrass Energy Partners by 56.4% in the first quarter. Envestnet Asset Management Inc. now owns 3,151 shares of the pipeline company’s stock valued at $121,000 after buying an additional 1,136 shares during the period. Finally, Acrospire Investment Management LLC grew its stake in Tallgrass Energy Partners by 47.4% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the pipeline company’s stock worth $129,000 after purchasing an additional 900 shares during the period. Institutional investors own 62.09% of the company’s stock.
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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.