Wall Street brokerages expect Tallgrass Energy Partners LP (NYSE:TEP) to announce sales of $196.92 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Tallgrass Energy Partners’ earnings. The highest sales estimate is $201.60 million and the lowest is $192.24 million. Tallgrass Energy Partners posted sales of $144.40 million during the same quarter last year, which suggests a positive year over year growth rate of 36.4%. The company is scheduled to issue its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Tallgrass Energy Partners will report full-year sales of $196.92 million for the current financial year, with estimates ranging from $694.00 million to $853.32 million. For the next fiscal year, analysts forecast that the business will report sales of $964.68 million per share. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Tallgrass Energy Partners.
Tallgrass Energy Partners (NYSE:TEP) last posted its quarterly earnings data on Tuesday, February 13th. The pipeline company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.25%. The company had revenue of $174.80 million during the quarter, compared to analyst estimates of $185.17 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis.
Shares of Tallgrass Energy Partners (TEP) opened at $39.91 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.52 and a current ratio of 0.60. Tallgrass Energy Partners has a 52 week low of $35.37 and a 52 week high of $54.21. The company has a market cap of $2,950.00, a PE ratio of 10.26 and a beta of 1.03.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a $0.965 dividend. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $3.86 dividend on an annualized basis and a dividend yield of 9.67%. Tallgrass Energy Partners’s dividend payout ratio is currently 99.23%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Prime Capital Investment Advisors LLC purchased a new stake in Tallgrass Energy Partners in the fourth quarter worth $101,000. The Manufacturers Life Insurance Company grew 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 valued at $107,000 after purchasing an additional 143 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Tallgrass Energy Partners by 207.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,520 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 1,700 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Tallgrass Energy Partners in the fourth quarter valued at $133,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Tallgrass Energy Partners in the fourth quarter valued at $218,000. Institutional investors own 61.14% of the company’s stock.
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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