Guggenheim Capital LLC decreased its stake in Tallgrass Energy Partners LP (NYSE:TEP) by 44.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,546 shares of the pipeline company’s stock after selling 57,763 shares during the period. Guggenheim Capital LLC’s holdings in Tallgrass Energy Partners were worth $3,280,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake 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 worth $107,000 after acquiring an additional 143 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Tallgrass Energy Partners by 9.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,536 shares of the pipeline company’s stock worth $792,000 after acquiring an additional 1,462 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Tallgrass Energy Partners by 5.9% in the third quarter. Allianz Asset Management GmbH now owns 26,176 shares of the pipeline company’s stock worth $1,254,000 after acquiring an additional 1,470 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Tallgrass Energy Partners in the fourth quarter worth $101,000. Finally, California Public Employees Retirement System grew its stake in shares of Tallgrass Energy Partners by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 76,950 shares of the pipeline company’s stock worth $3,528,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 61.12% of the company’s stock.
TEP has been the topic of several research analyst reports. Credit Suisse Group started coverage on shares of Tallgrass Energy Partners in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. US Capital Advisors cut Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research cut Tallgrass Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Citigroup raised Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 target price on shares of Tallgrass Energy Partners in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Tallgrass Energy Partners has a consensus rating of “Hold” and an average price target of $49.20.
Tallgrass Energy Partners (NYSE:TEP) last issued its quarterly earnings data 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. The company had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.17 million. Tallgrass Energy Partners had a return on equity of 28.25% and a net margin of 66.17%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. sell-side analysts predict that Tallgrass Energy Partners LP will post 2.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, April 27th. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a dividend yield of 9.94%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is presently 102.39%.
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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.
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