Friedberg Investment Management lowered its position in Tallgrass Energy Partners, LP (NYSE:TEP) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,200 shares of the company’s stock after selling 1,400 shares during the period. Friedberg Investment Management’s holdings in Tallgrass Energy Partners, were worth $1,100,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of TEP. Balentine LLC purchased a new stake in Tallgrass Energy Partners, during the second quarter worth approximately $101,000. State Street Corp increased its stake in Tallgrass Energy Partners, by 11.1% in the fourth quarter. State Street Corp now owns 5,452 shares of the company’s stock worth $259,000 after buying an additional 543 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Tallgrass Energy Partners, by 1.5% in the third quarter. Chicago Partners Investment Group LLC now owns 6,500 shares of the company’s stock worth $313,000 after buying an additional 98 shares during the last quarter. Advisor Consultant Network Inc. purchased a new stake in Tallgrass Energy Partners, during the third quarter worth approximately $373,000. Finally, Stephens Inc. AR increased its stake in Tallgrass Energy Partners, by 49.2% in the third quarter. Stephens Inc. AR now owns 8,272 shares of the company’s stock worth $399,000 after buying an additional 2,727 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.
Tallgrass Energy Partners, LP (NYSE:TEP) traded up 0.27% during trading on Tuesday, reaching $51.74. The company had a trading volume of 183,562 shares. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 24.13 and a beta of 1.00. Tallgrass Energy Partners, LP has a 12 month low of $27.51 and a 12 month high of $52.54. The stock has a 50 day moving average price of $48.93 and a 200 day moving average price of $47.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Friday, February 3rd will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Wednesday, February 1st. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.80. Tallgrass Energy Partners,’s dividend payout ratio is 153.77%.
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Separately, Zacks Investment Research upgraded Tallgrass Energy Partners, from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.43.
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, which includes the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics, which includes the ownership and operation of Federal Energy Regulatory Commission (FERC)-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics, which includes the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquid (NGLs).
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