Citigroup upgraded shares of Tallgrass Energy Partners (NYSE:TEP) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat Ratings reports.
A number of other equities research analysts have also commented on the stock. Credit Suisse Group assumed coverage on shares of Tallgrass Energy Partners in a report on Thursday, January 4th. They set a neutral rating on the stock. US Capital Advisors lowered shares of Tallgrass Energy Partners from an overweight rating to a hold rating in a report on Thursday, January 4th. ValuEngine lowered shares of Tallgrass Energy Partners from a buy rating to a hold rating in a report on Sunday, December 31st. Robert W. Baird restated a buy rating on shares of Tallgrass Energy Partners in a report on Thursday, December 7th. Finally, Morgan Stanley decreased their target price on shares of Tallgrass Energy Partners from $59.00 to $57.00 and set an equal weight rating for the company in a research report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $59.11.
Shares of Tallgrass Energy Partners (TEP) traded up $0.54 during trading hours on Tuesday, hitting $46.09. 536,300 shares of the company were exchanged, compared to its average volume of 504,762. Tallgrass Energy Partners has a fifty-two week low of $41.13 and a fifty-two week 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 firm has a market capitalization of $3,420.00, a price-to-earnings ratio of 12.32 and a beta of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be given a $0.965 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $3.86 dividend on an annualized basis and a yield of 8.37%. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s dividend payout ratio (DPR) is 68.98%.
In other news, insider David G. Dehaemers, Jr. acquired 715 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $44.00 per share, with a total value of $31,460.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David G. Dehaemers, Jr. acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $46.35 per share, with a total value of $463,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 86,719 shares of company stock valued at $3,753,147.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its position in shares of Tallgrass Energy Partners by 755.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,831 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 7,799 shares during the period. Institutional & Family Asset Management LLC bought a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at about $1,445,000. Tortoise Capital Advisors L.L.C. grew its position in shares of Tallgrass Energy Partners by 2.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after acquiring an additional 195,068 shares during the period. Neuberger Berman Group LLC bought a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at about $797,000. Finally, Guardian Capital LP bought a new position in shares of Tallgrass Energy Partners in the 3rd quarter valued at about $479,000. 62.09% of the stock is owned by institutional investors.
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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