Tallgrass Energy Partners, LP (TEP) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Tallgrass Energy Partners, LP (NYSE:TEP) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other research firms have also commented on TEP. Stifel Nicolaus reissued a buy rating and set a $69.00 price target on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Scotiabank set a $56.00 price target on Tallgrass Energy Partners, and gave the stock a buy rating in a research report on Friday, July 21st. Morgan Stanley reissued an equal weight rating and set a $59.00 price target (up from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Royal Bank Of Canada reissued a buy rating and set a $60.00 price target on shares of Tallgrass Energy Partners, in a research report on Monday, July 31st. Finally, BidaskClub raised Tallgrass Energy Partners, from a sell rating to a hold rating in a research report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Tallgrass Energy Partners, currently has an average rating of Buy and an average price target of $60.56.

Shares of Tallgrass Energy Partners, (NYSE:TEP) opened at 48.59 on Friday. The company’s 50 day moving average is $46.95 and its 200-day moving average is $49.35. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 21.93 and a beta of 1.04. Tallgrass Energy Partners, has a 1-year low of $42.59 and a 1-year high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $160.86 million for the quarter, compared to analyst estimates of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. Equities analysts anticipate that Tallgrass Energy Partners, will post $4.01 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://transcriptdaily.com/2017/10/09/tallgrass-energy-partners-lp-tep-lifted-to-buy-at-valuengine.html.

In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. acquired 17,350 shares of the company’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $44.64 per share, for a total transaction of $774,504.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary J. Brauchle acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $46.10 per share, for a total transaction of $138,300.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 30,350 shares of company stock worth $1,364,104 over the last 90 days.

A number of hedge funds have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. increased its holdings in Tallgrass Energy Partners, by 15.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock worth $367,048,000 after purchasing an additional 995,864 shares during the last quarter. Alps Advisors Inc. increased its holdings in Tallgrass Energy Partners, by 4.3% during the 2nd quarter. Alps Advisors Inc. now owns 3,380,112 shares of the pipeline company’s stock worth $169,310,000 after purchasing an additional 137,800 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Tallgrass Energy Partners, by 3.4% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock worth $167,808,000 after purchasing an additional 110,060 shares during the last quarter. Morgan Stanley increased its holdings in Tallgrass Energy Partners, by 3.1% during the 1st quarter. Morgan Stanley now owns 2,506,358 shares of the pipeline company’s stock worth $133,337,000 after purchasing an additional 75,518 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Tallgrass Energy Partners, by 13.7% during the 1st quarter. Bank of America Corp DE now owns 1,655,913 shares of the pipeline company’s stock worth $88,095,000 after purchasing an additional 199,309 shares during the last quarter. Institutional investors own 62.09% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

Receive News & Ratings for Tallgrass Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply