$190.05 Million in Sales Expected for Tallgrass Energy Partners LP (TEP) This Quarter

Brokerages expect Tallgrass Energy Partners LP (NYSE:TEP) to report sales of $190.05 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tallgrass Energy Partners’ earnings, with estimates ranging from $187.69 million to $192.40 million. Tallgrass Energy Partners posted sales of $160.66 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.3%. The business is expected to issue its next earnings results after the market closes on Tuesday, February 13th.

According to Zacks, analysts expect that Tallgrass Energy Partners will report full year sales of $190.05 million for the current year, with estimates ranging from $643.00 million to $682.69 million. For the next financial year, analysts expect that the company will post sales of $766.41 million per share, with estimates ranging from $694.00 million to $835.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Tallgrass Energy Partners.

Tallgrass Energy Partners (NYSE:TEP) last released its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. Tallgrass Energy Partners had a return on equity of 27.58% and a net margin of 64.13%.

TEP has been the topic of several recent analyst reports. Zacks Investment Research upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, October 5th. ValuEngine upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price objective on shares of Tallgrass Energy Partners in a report on Thursday, October 12th. Barclays reiterated a “hold” rating and set a $55.00 price objective on shares of Tallgrass Energy Partners in a report on Thursday, October 19th. Finally, Scotiabank reiterated a “buy” rating on shares of Tallgrass Energy Partners in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.56.

Tallgrass Energy Partners (NYSE:TEP) opened at $45.20 on Friday. Tallgrass Energy Partners has a 1-year low of $41.13 and a 1-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 capitalization of $3,308.64, a PE ratio of 12.22 and a beta of 0.99.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be paid a $0.965 dividend. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, January 30th. This represents a $3.86 annualized dividend and a yield of 8.54%. Tallgrass Energy Partners’s payout ratio is presently 101.07%.

In related news, insider David G. Dehaemers, Jr. purchased 6,039 shares of the stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $41.19 per share, with a total value of $248,746.41. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David G. Dehaemers, Jr. purchased 11,350 shares of the stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $43.14 per share, for a total transaction of $489,639.00. The disclosure for this purchase can be found here. Insiders acquired a total of 86,719 shares of company stock worth $3,753,147 in the last 90 days.

Several large investors have recently bought and sold shares of the business. Whalerock Point Partners LLC acquired a new position in shares of Tallgrass Energy Partners during the 4th quarter worth approximately $229,000. Starfire Investment Advisers Inc. acquired a new position in shares of Tallgrass Energy Partners during the 4th quarter worth approximately $1,067,000. Chicago Partners Investment Group LLC increased its position in shares of Tallgrass Energy Partners by 755.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,831 shares of the pipeline company’s stock worth $423,000 after purchasing an additional 7,799 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new position in shares of Tallgrass Energy Partners during the 3rd quarter worth approximately $1,445,000. Finally, Tortoise Capital Advisors L.L.C. increased its position in shares of Tallgrass Energy Partners by 2.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock worth $360,268,000 after purchasing an additional 195,068 shares during the last quarter. 62.09% of the stock is currently owned by hedge funds and other institutional investors.

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Tallgrass Energy Partners Company Profile

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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