Tallgrass Energy Partners, LP (NYSE:TEP) Stock Rating Lowered by BidaskClub

Tallgrass Energy Partners, LP (NYSE:TEP) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other brokerages also recently commented on TEP. Barclays PLC increased their price target on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Tallgrass Energy Partners, in a report on Monday, July 31st. Scotiabank set a $56.00 price target on Tallgrass Energy Partners, and gave the company a “buy” rating in a report on Friday, July 21st. Stifel Nicolaus reiterated a “buy” rating and set a $69.00 price target on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $59.00 price target (up previously from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Tallgrass Energy Partners, presently has a consensus rating of “Hold” and an average target price of $60.50.

Tallgrass Energy Partners, (NYSE:TEP) traded up 0.83% on Thursday, hitting $48.48. 5,644 shares of the stock were exchanged. The company has a market cap of $3.55 billion, a P/E ratio of 21.88 and a beta of 1.03. The company’s 50 day moving average price is $50.15 and its 200-day moving average price is $50.85. Tallgrass Energy Partners, has a one year low of $42.59 and a one year high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The firm had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Tallgrass Energy Partners, will post $3.52 EPS for the current fiscal year.

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In related news, insider David G. Dehaemers, Jr. acquired 5,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $48.26 per share, for a total transaction of $241,300.00. 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. acquired 4,021 shares of the stock in a transaction dated Tuesday, June 6th. The stock was bought at an average price of $47.30 per share, for a total transaction of $190,193.30. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 60,274 shares of company stock worth $2,861,796.

Hedge funds and other institutional investors have recently modified their holdings of the company. BP Capital Fund Advisors LLC boosted its position in shares of Tallgrass Energy Partners, by 135.6% in the first quarter. BP Capital Fund Advisors LLC now owns 39,321 shares of the pipeline company’s stock valued at $2,092,000 after buying an additional 22,633 shares during the period. Hancock Holding Co. boosted its position in shares of Tallgrass Energy Partners, by 22.8% in the first quarter. Hancock Holding Co. now owns 23,185 shares of the pipeline company’s stock valued at $1,233,000 after buying an additional 4,303 shares during the period. Pointe Capital Management LLC purchased a new position in shares of Tallgrass Energy Partners, during the first quarter valued at approximately $1,619,000. Koch Industries Inc. boosted its position in shares of Tallgrass Energy Partners, by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock valued at $283,000 after buying an additional 531 shares during the period. Finally, Morgan Stanley boosted its position in shares of Tallgrass Energy Partners, by 3.1% in the first quarter. Morgan Stanley now owns 2,506,358 shares of the pipeline company’s stock valued at $133,337,000 after buying an additional 75,518 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

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