Tallgrass Energy Partners, LP (TEP) Given “Buy” Rating at Stifel Nicolaus

Tallgrass Energy Partners, LP (NYSE:TEP)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a report issued on Thursday. They presently have a $64.00 target price on the pipeline company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 31.26% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on TEP. BidaskClub raised Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and set a $59.00 price target (up previously from $57.00) 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 company a “buy” rating in a research report on Friday, July 21st. 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, Barclays PLC boosted their price target on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $60.00.

Tallgrass Energy Partners, (NYSE TEP) opened at 48.76 on Thursday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 22.00 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. The company’s 50-day moving average price is $47.26 and its 200 day moving average price is $49.25.

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

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In related news, insider David G. Dehaemers, Jr. bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $45.13 per share, with a total value of $451,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary J. Brauchle bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $46.10 per share, with a total value of $138,300.00. The disclosure for this purchase can be found here. Insiders bought 30,350 shares of company stock valued at $1,364,104 in the last ninety days.

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Tallgrass Energy Partners, by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after buying an additional 143 shares during the period. Ffcm LLC boosted its position in shares of Tallgrass Energy Partners, by 217.7% in the second quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock worth $115,000 after buying an additional 1,548 shares during the period. Penserra Capital Management LLC boosted its position in shares of Tallgrass Energy Partners, by 300.3% in the second quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock worth $142,000 after buying an additional 2,144 shares during the period. Doliver Capital Advisors LP purchased a new stake in shares of Tallgrass Energy Partners, in the second quarter worth about $216,000. Finally, Franklin Square Holdings L.P. purchased a new stake in shares of Tallgrass Energy Partners, in the first quarter worth about $239,000. 62.09% of the stock is owned by institutional investors.

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.

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