Tallgrass Energy Partners (TEP) Releases Earnings Results, Meets Expectations

Tallgrass Energy Partners (NYSE:TEP) issued its quarterly earnings results on Tuesday. The pipeline company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67, Morningstar.com reports. The business had revenue of $174.80 million during the quarter, compared to analyst estimates of $185.17 million. Tallgrass Energy Partners had a net margin of 64.13% and a return on equity of 27.58%. Tallgrass Energy Partners’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share.

Tallgrass Energy Partners (TEP) traded up $1.74 on Wednesday, reaching $39.80. 743,195 shares of the company’s stock were exchanged, compared to its average volume of 502,966. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.35. Tallgrass Energy Partners has a 12-month low of $35.37 and a 12-month high of $55.50. The firm has a market cap of $2,759.63, a price-to-earnings ratio of 10.59 and a beta of 0.90.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.965 per share. This represents a $3.86 dividend on an annualized basis and a yield of 9.70%. The ex-dividend date is Tuesday, January 30th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s payout ratio is currently 103.21%.

TEP has been the subject of a number of research reports. Royal Bank of Canada reissued a “buy” rating and issued a $55.00 price target on shares of Tallgrass Energy Partners in a report on Tuesday, January 16th. Stifel Nicolaus set a $47.00 price target on shares of Tallgrass Energy Partners and gave the company a “buy” rating in a report on Thursday, February 8th. Citigroup raised shares of Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Scotiabank reissued a “buy” rating on shares of Tallgrass Energy Partners in a report on Wednesday, October 25th. Finally, Robert W. Baird reissued a “buy” rating on shares of Tallgrass Energy Partners in a report on Thursday, December 7th. Two research 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.33.

In other news, insider David G. Dehaemers, Jr. purchased 11,350 shares of Tallgrass Energy Partners stock in a transaction dated Wednesday, December 6th. The shares were bought at an average cost of $43.14 per share, with a total value of $489,639.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. purchased 715 shares of Tallgrass Energy Partners stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $44.00 per share, for a total transaction of $31,460.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 64,605 shares of company stock valued at $2,753,188 in the last ninety days.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC bought a new position in shares of Tallgrass Energy Partners during the fourth quarter worth $101,000. The Manufacturers Life Insurance Company boosted its position in shares of Tallgrass Energy Partners by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 143 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Tallgrass Energy Partners during the fourth quarter worth $222,000. Whalerock Point Partners LLC bought a new position in shares of Tallgrass Energy Partners during the fourth quarter worth $229,000. Finally, Texas Yale Capital Corp. bought a new position in shares of Tallgrass Energy Partners during the fourth quarter worth $307,000. 61.82% of the stock is currently owned by institutional investors.

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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.

Earnings History for Tallgrass Energy Partners (NYSE:TEP)

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