Atlantic Trust Group LLC cut its holdings in Tallgrass Energy Partners LP (NYSE:TEP) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 602,834 shares of the pipeline company’s stock after selling 62,319 shares during the quarter. Atlantic Trust Group LLC owned approximately 0.82% of Tallgrass Energy Partners worth $28,870,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Alliancebernstein L.P. increased its position in Tallgrass Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after purchasing an additional 559 shares during the period. Suncoast Equity Management increased its position in Tallgrass Energy Partners by 19.9% in the second quarter. Suncoast Equity Management now owns 6,710 shares of the pipeline company’s stock worth $336,000 after purchasing an additional 1,115 shares during the period. Boyer & Corporon Wealth Management LLC acquired a new stake in Tallgrass Energy Partners in the second quarter worth about $2,165,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Tallgrass Energy Partners by 14.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock worth $53,041,000 after purchasing an additional 133,102 shares during the period. Finally, Green Square Capital LLC acquired a new stake in Tallgrass Energy Partners in the second quarter worth about $258,000. Institutional investors own 62.09% of the company’s stock.
In related news, insider David G. Dehaemers, Jr. bought 11,350 shares of Tallgrass Energy Partners stock in a transaction on Wednesday, December 6th. The shares were purchased at an average price of $43.14 per share, for a total transaction of $489,639.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. bought 6,039 shares of Tallgrass Energy Partners stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $41.19 per share, for a total transaction of $248,746.41. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 86,719 shares of company stock worth $3,753,147.
TEP has been the subject of a number of research reports. Zacks Investment Research upgraded Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, October 5th. Scotiabank reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective on shares of Tallgrass Energy Partners in a research report on Thursday, October 12th. Robert W. Baird reiterated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Thursday, December 7th. Finally, Morgan Stanley lowered their price objective on Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. 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 presently has an average rating of “Hold” and an average price target 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.
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