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%.
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.
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.
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