Tallgrass Energy Partners (TEP) Earns “Buy” Rating from Royal Bank of Canada

Tallgrass Energy Partners (NYSE:TEP)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday. They currently have a $45.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 11.66% from the stock’s previous close.

A number of other research firms also recently weighed in on TEP. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a report on Thursday, January 4th. Barclays restated a “hold” rating and set a $55.00 price target on shares of Tallgrass Energy Partners in a report on Thursday, October 19th. Credit Suisse Group began coverage on shares of Tallgrass Energy Partners in a report on Thursday, January 4th. They set a “neutral” rating on the stock. ValuEngine lowered shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Tallgrass Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.33.

Tallgrass Energy Partners (NYSE TEP) traded up $2.24 during trading on Wednesday, hitting $40.30. 1,130,000 shares of the stock were exchanged, compared to its average volume of 497,937. The company has a market cap of $2,980.00, a P/E ratio of 10.78 and a beta of 0.92. 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 fifty-two week low of $35.37 and a fifty-two week high of $55.50.

Tallgrass Energy Partners (NYSE:TEP) last released its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $174.80 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. equities research analysts anticipate that Tallgrass Energy Partners will post 3.89 EPS for the current year.

In other news, insider David G. Dehaemers, Jr. bought 715 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $44.00 per share, for a total transaction of $31,460.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. bought 11,350 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $43.14 per share, for a total transaction of $489,639.00. The disclosure for this purchase can be found here. Insiders purchased a total of 64,605 shares of company stock worth $2,753,188 over the last quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of TEP. Alps Advisors Inc. grew its position in Tallgrass Energy Partners by 13.0% in the 3rd quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock worth $182,878,000 after purchasing an additional 438,600 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Tallgrass Energy Partners by 2.7% in 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. Goldman Sachs Group Inc. grew its position in Tallgrass Energy Partners by 42.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 465,238 shares of the pipeline company’s stock worth $21,331,000 after purchasing an additional 137,774 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tallgrass Energy Partners by 17.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 871,105 shares of the pipeline company’s stock worth $41,081,000 after purchasing an additional 130,240 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Tallgrass Energy Partners by 9.0% in the 4th quarter. Clearbridge Investments LLC now owns 1,410,980 shares of the pipeline company’s stock worth $64,693,000 after purchasing an additional 116,470 shares during the last quarter. Institutional investors own 61.82% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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