Tallgrass Energy Partners (TEP) Given a $50.00 Price Target at Robert W. Baird

Tallgrass Energy Partners (NYSE:TEP) has been assigned a $50.00 price target by equities researchers at Robert W. Baird in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the pipeline company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 28.04% from the company’s previous close.

A number of other brokerages have also issued reports on TEP. Stifel Nicolaus set a $48.00 target price on Tallgrass Energy Partners and gave the company a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley cut their target price on Tallgrass Energy Partners from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. ValuEngine lowered Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Tallgrass Energy Partners in a research report on Wednesday, February 14th. Finally, Zacks Investment Research raised Tallgrass Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.20.

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Shares of TEP opened at $39.05 on Thursday. Tallgrass Energy Partners has a 52-week low of $34.37 and a 52-week high of $54.10. The company has a market capitalization of $2,819.66, a price-to-earnings ratio of 10.36 and a beta of 1.02. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 1.38.

Tallgrass Energy Partners (NYSE:TEP) last announced its earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. Tallgrass Energy Partners had a return on equity of 28.25% and a net margin of 66.17%. The company had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.17 million. During the same period in the prior year, the company posted $0.51 EPS. Tallgrass Energy Partners’s quarterly revenue was up 7.8% on a year-over-year basis. sell-side analysts expect that Tallgrass Energy Partners will post 2.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its position in Tallgrass Energy Partners by 2.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock worth $360,268,000 after buying an additional 195,068 shares during the period. Alps Advisors Inc. increased its position in Tallgrass Energy Partners by 2.4% in the fourth quarter. Alps Advisors Inc. now owns 3,910,660 shares of the pipeline company’s stock worth $179,304,000 after buying an additional 91,948 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Tallgrass Energy Partners by 0.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 3,349,856 shares of the pipeline company’s stock worth $153,576,000 after buying an additional 14,300 shares during the period. Advisory Research Inc. increased its position in Tallgrass Energy Partners by 3.8% in the fourth quarter. Advisory Research Inc. now owns 1,847,902 shares of the pipeline company’s stock worth $84,727,000 after buying an additional 67,271 shares during the period. Finally, Clearbridge Investments LLC increased its position in Tallgrass Energy Partners by 9.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,410,980 shares of the pipeline company’s stock worth $64,693,000 after buying an additional 116,470 shares during the period. 61.12% of the stock is currently 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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