Tallgrass Energy Partners (TEP) Downgraded to Hold at US Capital Advisors

US Capital Advisors cut shares of Tallgrass Energy Partners (NYSE:TEP) from an overweight rating to a hold rating in a report issued on Thursday. US Capital Advisors also issued estimates for Tallgrass Energy Partners’ Q4 2017 earnings at $0.65 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.06 EPS and FY2019 earnings at $2.46 EPS.

A number of other research firms also recently issued reports on TEP. ValuEngine lowered shares of Tallgrass Energy Partners from a buy rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a hold rating to a buy rating and set a $54.00 price target on the stock in a research note on Thursday, October 5th. Scotiabank restated a buy rating on shares of Tallgrass Energy Partners in a research note on Wednesday, October 25th. Stifel Nicolaus reiterated a buy rating and issued a $64.00 target price on shares of Tallgrass Energy Partners in a research note on Thursday, October 12th. Finally, Robert W. Baird reiterated 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 given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $59.11.

Tallgrass Energy Partners (TEP) traded down $0.42 during mid-day trading on Thursday, reaching $46.04. 544,100 shares of the company’s stock were exchanged, compared to its average volume of 504,533. Tallgrass Energy Partners has a 12 month low of $41.13 and a 12 month high of $55.50. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35. The stock has a market cap of $3,320.00, a P/E ratio of 12.31 and a beta of 1.01.

In other Tallgrass Energy Partners news, CEO David G. Dehaemers, Jr. acquired 1,688 shares of Tallgrass Energy Partners stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $44.99 per share, with a total value of $75,943.12. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 715 shares of Tallgrass Energy Partners stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $44.00 per share, with a total value of $31,460.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 86,719 shares of company stock valued at $3,753,147.

A number of hedge funds have recently made changes to their positions in TEP. Bank of New York Mellon Corp increased its position in Tallgrass Energy Partners by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock valued at $341,000 after acquiring an additional 1,117 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Tallgrass Energy Partners by 13.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,074 shares of the pipeline company’s stock valued at $755,000 after acquiring an additional 1,751 shares in the last quarter. Ffcm LLC increased its position in Tallgrass Energy Partners by 217.7% in the 2nd quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock valued at $115,000 after acquiring an additional 1,548 shares in the last quarter. Wells Fargo & Company MN increased its position in Tallgrass Energy Partners by 4.2% in the 2nd quarter. Wells Fargo & Company MN now owns 159,421 shares of the pipeline company’s stock valued at $7,984,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Tallgrass Energy Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock valued at $500,000 after acquiring an additional 559 shares in the last quarter. 62.09% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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