Tallgrass Energy Partners (TEP) Price Target Lowered to $48.00 at Morgan Stanley

Tallgrass Energy Partners (NYSE:TEP) had its target price reduced by stock analysts at Morgan Stanley from $52.00 to $48.00 in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s target price would suggest a potential upside of 32.67% from the company’s previous close.

A number of other research firms have also recently commented on TEP. ValuEngine cut Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised Tallgrass Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Scotiabank reaffirmed a “buy” rating on shares of Tallgrass Energy Partners in a research note on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Tallgrass Energy Partners in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Tallgrass Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $55.67.

Tallgrass Energy Partners (NYSE TEP) traded down $2.43 on Friday, hitting $36.18. The stock had a trading volume of 1,343,865 shares, compared to its average volume of 475,974. The company has a market capitalization of $3,176.14, a PE ratio of 9.67 and a beta of 0.90. Tallgrass Energy Partners has a 1 year low of $35.37 and a 1 year 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, insider David G. Dehaemers, Jr. bought 715 shares of the stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $44.00 per share, for a total transaction of $31,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David G. Dehaemers, Jr. bought 10,426 shares of the stock in a transaction on Monday, November 13th. The shares were bought at an average price of $44.17 per share, with a total value of $460,516.42. The disclosure for this purchase can be found here. In the last three months, insiders purchased 75,031 shares of company stock worth $3,213,704.

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its holdings in Tallgrass Energy Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after buying an additional 559 shares during the period. Neuberger Berman Group LLC purchased a new stake in Tallgrass Energy Partners during the third quarter worth $797,000. Duff & Phelps Investment Management Co. lifted its holdings in Tallgrass Energy Partners by 3.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 953,298 shares of the pipeline company’s stock worth $45,653,000 after buying an additional 30,000 shares during the period. Harvest Fund Advisors LLC lifted its holdings in Tallgrass Energy Partners by 6.1% during the third quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after buying an additional 107,897 shares during the period. Finally, RR Advisors LLC lifted its holdings in Tallgrass Energy Partners by 0.3% during the third quarter. RR Advisors LLC now owns 1,074,000 shares of the pipeline company’s stock worth $51,367,000 after buying an additional 3,000 shares during the period. Institutional investors own 61.79% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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