Tallgrass Energy Partners, LP (NYSE:TEP) has received an average rating of “Hold” from the seven research firms that are covering the firm. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $50.25.
Separately, Zacks Investment Research upgraded Tallgrass Energy Partners, from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 2nd.
Tallgrass Energy Partners, (NYSE:TEP) opened at 52.01 on Monday. The company has a market capitalization of $3.75 billion, a PE ratio of 24.26 and a beta of 1.00. The firm’s 50-day moving average is $48.79 and its 200 day moving average is $47.21. Tallgrass Energy Partners, has a one year low of $25.82 and a one year high of $52.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Friday, February 3rd will be given a dividend of $0.815 per share. This represents a $3.26 annualized dividend and a dividend yield of 6.27%. 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 payout ratio is currently 153.77%.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in Tallgrass Energy Partners, during the second quarter valued at $2,248,000. Duff & Phelps Investment Management Co. boosted its position in Tallgrass Energy Partners, by 2.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 655,000 shares of the company’s stock valued at $30,143,000 after buying an additional 15,600 shares in the last quarter. Taylor Wealth Management Partners boosted its position in Tallgrass Energy Partners, by 4.5% in the second quarter. Taylor Wealth Management Partners now owns 101,130 shares of the company’s stock valued at $4,654,000 after buying an additional 4,365 shares in the last quarter. Balentine LLC acquired a new position in Tallgrass Energy Partners, during the second quarter valued at $101,000. Finally, Cohen & Steers Inc. boosted its position in Tallgrass Energy Partners, by 387.5% in the second quarter. Cohen & Steers Inc. now owns 305,798 shares of the company’s stock valued at $16,382,000 after buying an additional 243,069 shares in the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.
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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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