Tallgrass Energy Partners LP (NYSE:TEP) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $44.17.
A number of brokerages have recently commented on TEP. Barclays set a $26.00 target price on shares of Tallgrass Energy Partners and gave the company a “hold” rating in a report on Thursday, August 16th. Citigroup boosted their target price on shares of Tallgrass Energy Partners from $41.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 25th. Finally, ValuEngine cut shares of Tallgrass Energy Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd.
In related news, major shareholder Tallgrass Energy Holdings, Llc purchased 25,645 shares of the stock in a transaction dated Thursday, June 28th. The stock was purchased at an average price of $44.53 per share, with a total value of $1,141,971.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors have recently modified their holdings of TEP. Tortoise Capital Advisors L.L.C. raised its position in Tallgrass Energy Partners by 17.5% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 8,864,756 shares of the pipeline company’s stock worth $335,886,000 after buying an additional 1,323,227 shares during the last quarter. OppenheimerFunds Inc. raised its position in Tallgrass Energy Partners by 39.4% in the 1st quarter. OppenheimerFunds Inc. now owns 4,636,357 shares of the pipeline company’s stock worth $175,672,000 after buying an additional 1,310,055 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Tallgrass Energy Partners in the 2nd quarter worth about $46,757,000. Summit Trail Advisors LLC raised its position in Tallgrass Energy Partners by 3,198.5% in the 1st quarter. Summit Trail Advisors LLC now owns 1,004,543 shares of the pipeline company’s stock worth $1,005,000 after buying an additional 974,088 shares during the last quarter. Finally, Global X Management Co LLC raised its position in Tallgrass Energy Partners by 1,621.3% in the 2nd quarter. Global X Management Co LLC now owns 564,791 shares of the pipeline company’s stock worth $24,461,000 after buying an additional 531,980 shares during the last quarter. 57.01% of the stock is owned by institutional investors and hedge funds.
Shares of TEP stock opened at $43.31 on Friday. Tallgrass Energy Partners has a 12 month low of $34.37 and a 12 month high of $52.84. The firm has a market cap of $3.17 billion, a PE ratio of 11.49 and a beta of 1.01. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 1.46.
Tallgrass Energy Partners Company Profile
Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. It operates through Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling segments. The Natural Gas Transportation segment engages in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,641 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska.
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