Analysts expect Tallgrass Energy Partners LP (NYSE:TEP) to post sales of $190.05 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tallgrass Energy Partners’ earnings. The lowest sales estimate is $187.69 million and the highest is $192.40 million. Tallgrass Energy Partners reported sales of $160.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.3%. The business is scheduled to issue its next earnings report on Wednesday, February 21st.
According to Zacks, analysts expect that Tallgrass Energy Partners will report full year sales of $190.05 million for the current year, with estimates ranging from $643.00 million to $682.69 million. For the next year, analysts anticipate that the business will report sales of $772.56 million per share, with estimates ranging from $694.00 million to $835.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Tallgrass Energy Partners.
A number of research analysts have issued reports on the company. ValuEngine downgraded Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a report on Sunday. Robert W. Baird reissued a “buy” rating on shares of Tallgrass Energy Partners in a report on Thursday, December 7th. Morgan Stanley decreased their price target on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Zacks Investment Research raised Tallgrass Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Scotiabank reaffirmed 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, six have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.11.
In related news, CEO David G. Dehaemers, Jr. bought 1,688 shares of the company’s stock in a transaction on Friday, November 10th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $75,943.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David G. Dehaemers, Jr. bought 10,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was bought at an average price of $46.35 per share, with a total value of $463,500.00. The disclosure for this purchase can be found here. Insiders have purchased 86,719 shares of company stock valued at $3,753,147 over the last quarter.
Large investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its stake in shares of Tallgrass Energy Partners by 755.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,831 shares of the pipeline company’s stock valued at $423,000 after purchasing an additional 7,799 shares during the last quarter. Institutional & Family Asset Management LLC acquired a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at $1,445,000. Tortoise Capital Advisors L.L.C. lifted its stake in shares of 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 valued at $360,268,000 after purchasing an additional 195,068 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at $797,000. Finally, Guardian Capital LP acquired a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at $479,000. Institutional investors own 62.09% of the company’s stock.
Shares of Tallgrass Energy Partners (NYSE:TEP) traded up $0.08 during mid-day trading on Thursday, hitting $46.46. The stock had a trading volume of 553,200 shares, compared to its average volume of 484,750. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.50. Tallgrass Energy Partners has a 1-year low of $41.13 and a 1-year high of $55.50. The stock has a market capitalization of $3,440.00, a price-to-earnings ratio of 12.42 and a beta of 1.01.
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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.
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