Tallgrass Energy Partners (TEP) Lifted to Overweight at Barclays

Tallgrass Energy Partners (NYSE:TEP) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $43.00 price target on the pipeline company’s stock, down from their previous price target of $50.00. Barclays’ price objective would indicate a potential upside of 14.06% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut 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. Stifel Nicolaus set a $47.00 price target on shares of Tallgrass Energy Partners and gave the company a “buy” rating in a research report on Thursday. Finally, US Capital Advisors cut shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.33.

Shares of Tallgrass Energy Partners (TEP) traded up $1.52 during midday trading on Monday, reaching $37.70. 1,137,177 shares of the company were exchanged, compared to its average volume of 470,786. Tallgrass Energy Partners has a one year low of $35.37 and a one year high of $55.50. The stock has a market cap of $2,790.00, a PE ratio of 10.08 and a beta of 0.92. 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. purchased 15,000 shares of Tallgrass Energy Partners stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average cost of $42.97 per share, for a total transaction of $644,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David G. Dehaemers, Jr. purchased 31,501 shares of Tallgrass Energy Partners stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $42.50 per share, with a total value of $1,338,792.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 64,605 shares of company stock valued at $2,753,188.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew 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 worth $107,000 after acquiring an additional 143 shares during the period. Whalerock Point Partners LLC bought a new stake in shares of Tallgrass Energy Partners in the fourth quarter worth approximately $229,000. Texas Yale Capital Corp. bought a new stake in shares of Tallgrass Energy Partners in the fourth quarter worth approximately $307,000. Bank of New York Mellon Corp grew its stake in shares of Tallgrass Energy Partners by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 1,117 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Tallgrass Energy Partners by 755.7% in the third quarter. Chicago Partners Investment Group LLC now owns 8,831 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 7,799 shares during the period. Hedge funds and other institutional investors own 61.82% 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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