Insider Buying: Tallgrass Energy Partners, LP (TEP) Insider Purchases $1,338,792.50 in Stock

Tallgrass Energy Partners, LP (NYSE:TEP) insider David G. Dehaemers, Jr. bought 31,501 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average price of $42.50 per share, with a total value of $1,338,792.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Tallgrass Energy Partners, LP (NYSE TEP) opened at $41.79 on Thursday. 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, LP has a 1 year low of $41.13 and a 1 year high of $55.50. The firm has a market cap of $3,048.04, a P/E ratio of 11.25 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 9.05%. The ex-dividend date was Monday, October 30th. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.93. Tallgrass Energy Partners’s payout ratio is 98.93%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its holdings in Tallgrass Energy Partners by 2.7% during 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 acquiring an additional 195,068 shares during the period. Alps Advisors Inc. grew its holdings in Tallgrass Energy Partners by 13.0% during the 3rd quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock worth $182,878,000 after acquiring an additional 438,600 shares during the period. Kayne Anderson Capital Advisors LP grew 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 acquiring an additional 110,060 shares during the period. Harvest Fund Advisors LLC grew its holdings in Tallgrass Energy Partners by 6.1% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after acquiring an additional 107,897 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Tallgrass Energy Partners by 2.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,084,722 shares of the pipeline company’s stock worth $51,947,000 after acquiring an additional 25,818 shares during the period. 62.09% of the stock is owned by hedge funds and other institutional investors.

TEP has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, October 12th. ValuEngine upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, October 5th. Robert W. Baird reiterated a “buy” rating and issued a $67.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, August 24th. Finally, Scotiabank reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.11.

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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.

Insider Buying and Selling by Quarter for Tallgrass Energy Partners (NYSE:TEP)

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