Tallgrass Energy Partners (TEP) Given a $48.00 Price Target by Stifel Nicolaus Analysts

Tallgrass Energy Partners (NYSE:TEP) received a $48.00 target price from stock analysts at Stifel Nicolaus in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 21.09% from the company’s previous close.

Several other brokerages have also weighed in on TEP. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price objective on shares of Tallgrass Energy Partners in a report on Tuesday, January 16th. US Capital Advisors lowered shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a report on Thursday, January 4th. Barclays reiterated a “hold” rating and set a $55.00 price objective 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. Finally, ValuEngine lowered shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.33.

Shares of Tallgrass Energy Partners (TEP) traded up $1.58 during midday trading on Wednesday, reaching $39.64. 383,278 shares of the company were exchanged, compared to its average volume of 492,814. The firm has a market cap of $2,759.63, a PE ratio of 10.59 and a beta of 0.90. Tallgrass Energy Partners has a 12-month low of $35.37 and a 12-month 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.

Tallgrass Energy Partners (NYSE:TEP) last released its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.09). The firm had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.17 million. Tallgrass Energy Partners had a return on equity of 27.58% and a net margin of 64.13%. Tallgrass Energy Partners’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. analysts predict that Tallgrass Energy Partners will post 3.89 earnings per share for the current year.

In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. purchased 6,039 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average price of $41.19 per share, for a total transaction of $248,746.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. purchased 11,350 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired 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 64,605 shares of company stock worth $2,753,188 in the last 90 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of TEP. Alps Advisors Inc. raised its stake in shares of Tallgrass Energy Partners by 13.0% during the third quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock valued at $182,878,000 after purchasing an additional 438,600 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of Tallgrass Energy Partners by 2.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after purchasing an additional 195,068 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Tallgrass Energy Partners by 17.6% during the third quarter. JPMorgan Chase & Co. now owns 871,105 shares of the pipeline company’s stock valued at $41,081,000 after purchasing an additional 130,240 shares during the period. Global X Management Co. LLC raised its stake in shares of Tallgrass Energy Partners by 30.1% during the fourth quarter. Global X Management Co. LLC now owns 472,544 shares of the pipeline company’s stock valued at $21,666,000 after purchasing an additional 109,445 shares during the period. Finally, Harvest Fund Advisors LLC raised its stake in shares of 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 valued at $89,746,000 after purchasing an additional 107,897 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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