US Capital Advisors Weighs in on Tallgrass Energy Partners LP’s FY2017 Earnings (TEP)

Tallgrass Energy Partners LP (NYSE:TEP) – Investment analysts at US Capital Advisors increased their FY2017 earnings estimates for shares of Tallgrass Energy Partners in a report released on Thursday. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $3.85 per share for the year, up from their prior forecast of $3.65. US Capital Advisors has a “Hold” rating on the stock.

A number of other research firms also recently weighed in on TEP. ValuEngine downgraded Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, October 5th. Scotiabank reaffirmed a “buy” rating on shares of Tallgrass Energy Partners in a research note on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Tallgrass Energy Partners in a research note on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Tallgrass Energy Partners in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Tallgrass Energy Partners currently has an average rating of “Hold” and an average price target of $59.11.

Tallgrass Energy Partners (NYSE:TEP) opened at $44.64 on Monday. Tallgrass Energy Partners has a 1-year low of $41.13 and a 1-year high of $55.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.50. The firm has a market capitalization of $3,300.00, a PE ratio of 11.94 and a beta of 1.01.

Several hedge funds have recently modified their holdings of TEP. Bank of New York Mellon Corp lifted its stake in shares of Tallgrass Energy Partners by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 1,117 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Tallgrass Energy Partners by 13.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,074 shares of the pipeline company’s stock valued at $755,000 after purchasing an additional 1,751 shares in the last quarter. Wells Fargo & Company MN raised its position in Tallgrass Energy Partners by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 159,421 shares of the pipeline company’s stock valued at $7,984,000 after purchasing an additional 6,401 shares in the last quarter. Alliancebernstein L.P. raised its position in Tallgrass Energy Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock valued at $500,000 after purchasing an additional 559 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Tallgrass Energy Partners by 1.9% during the 2nd quarter. Stephens Inc. AR now owns 18,335 shares of the pipeline company’s stock valued at $918,000 after purchasing an additional 339 shares in the last quarter. 62.09% of the stock is owned by hedge funds and other institutional investors.

In other Tallgrass Energy Partners news, CEO David G. Dehaemers, Jr. purchased 1,688 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average cost of $44.99 per share, with a total value of $75,943.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David G. Dehaemers, Jr. purchased 11,350 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were acquired at an average cost of $43.14 per share, with a total value of $489,639.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 86,719 shares of company stock valued at $3,753,147 in the last 90 days.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2018/01/08/us-capital-advisors-weighs-in-on-tallgrass-energy-partners-lps-fy2017-earnings-tep.html.

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.

What are top analysts saying about Tallgrass Energy Partners? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Tallgrass Energy Partners and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit