Tallgrass Energy Partners (NYSE:TEP)‘s stock had its “buy” rating restated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday. They presently have a $55.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 18.92% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Tallgrass Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Scotiabank reissued a “buy” rating on shares of Tallgrass Energy Partners in a research report on Wednesday, October 25th. Barclays reissued a “hold” rating and issued a $55.00 price target on shares of Tallgrass Energy Partners in a research report on Thursday, October 19th. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine downgraded shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.56.

Shares of Tallgrass Energy Partners (NYSE TEP) traded down $0.07 during mid-day trading on Tuesday, hitting $46.25. 405,166 shares of the stock traded hands, compared to its average volume of 353,249. Tallgrass Energy Partners has a one year low of $41.13 and a one year high of $55.50. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35. The firm has a market cap of $3,420.00, a P/E ratio of 12.37 and a beta of 1.01.

Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.01. Tallgrass Energy Partners had a net margin of 64.13% and a return on equity of 27.58%. equities analysts expect that Tallgrass Energy Partners will post 3.91 EPS for the current year.

In related news, CEO David G. Dehaemers, Jr. acquired 1,688 shares of the company’s stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $44.99 per share, for a total transaction of $75,943.12. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David G. Dehaemers, Jr. acquired 10,426 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average price of $44.17 per share, for a total transaction of $460,516.42. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 86,719 shares of company stock worth $3,753,147.

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its stake in Tallgrass Energy Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 143 shares in the last quarter. Doliver Capital Advisors LP bought a new stake in shares of Tallgrass Energy Partners during the 2nd quarter worth $216,000. Whalerock Point Partners LLC bought a new stake in shares of Tallgrass Energy Partners during the 4th quarter worth $229,000. Green Square Capital LLC bought a new stake in shares of Tallgrass Energy Partners during the 2nd quarter worth $258,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Tallgrass Energy Partners by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock worth $341,000 after purchasing an additional 1,117 shares during the period. Institutional investors and hedge funds own 62.09% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Tallgrass Energy Partners (TEP) Receives Buy Rating from Royal Bank of Canada” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/16/tallgrass-energy-partners-tep-receives-buy-rating-from-royal-bank-of-canada.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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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