$0.71 EPS Expected for Tallgrass Energy Partners, LP (TEP) This Quarter

Brokerages forecast that Tallgrass Energy Partners, LP (NYSE:TEP) will announce earnings per share (EPS) of $0.71 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tallgrass Energy Partners,’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.82. Tallgrass Energy Partners, posted earnings of $0.69 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, August 2nd.

According to Zacks, analysts expect that Tallgrass Energy Partners, will report full year earnings of $3.47 per share for the current year, with EPS estimates ranging from $2.54 to $3.99. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.11 per share, with EPS estimates ranging from $2.32 to $4.02. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Tallgrass Energy Partners,.

Tallgrass Energy Partners, (NYSE:TEP) last announced its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $144.40 million during the quarter, compared to the consensus estimate of $160.56 million. Tallgrass Energy Partners, had a return on equity of 18.77% and a net margin of 48.06%. Tallgrass Energy Partners,’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tallgrass Energy Partners, in a research note on Friday, April 21st. Mitsubishi UFJ Financial Group assumed coverage on shares of Tallgrass Energy Partners, in a research note on Wednesday, April 19th. They issued a “hold” rating and a $58.00 price objective for the company. Zacks Investment Research lowered shares of Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Citigroup Inc. lowered shares of Tallgrass Energy Partners, from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Scotiabank reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Tallgrass Energy Partners, in a research note on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tallgrass Energy Partners, has an average rating of “Hold” and an average target price of $58.29.

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Tallgrass Energy Partners, (NYSE TEP) traded up 1.44% during midday trading on Thursday, hitting $46.36. 309,199 shares of the stock traded hands. Tallgrass Energy Partners, has a 52-week low of $42.54 and a 52-week high of $55.50. The firm’s 50-day moving average is $48.97 and its 200-day moving average is $50.10. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 19.20 and a beta of 1.03.

In other news, insider David G. Dehaemers, Jr. purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of $49.75 per share, with a total value of $248,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David G. Dehaemers, Jr. purchased 35,783 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $46.47 per share, with a total value of $1,662,836.01. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 91,290 shares of company stock valued at $4,406,923.

Several hedge funds have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. raised its stake in Tallgrass Energy Partners, by 0.3% in the first quarter. Tocqueville Asset Management L.P. now owns 10,031 shares of the pipeline company’s stock valued at $534,000 after buying an additional 26 shares during the last quarter. Country Club Trust Company n.a. raised its stake in Tallgrass Energy Partners, by 1.0% in the first quarter. Country Club Trust Company n.a. now owns 7,825 shares of the pipeline company’s stock valued at $417,000 after buying an additional 77 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Tallgrass Energy Partners, by 3.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,050 shares of the pipeline company’s stock valued at $322,000 after buying an additional 205 shares during the last quarter. Koch Industries Inc. raised its stake in Tallgrass Energy Partners, by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock valued at $283,000 after buying an additional 531 shares during the last quarter. Finally, State Street Corp raised its stake in Tallgrass Energy Partners, by 11.1% in the fourth quarter. State Street Corp now owns 5,452 shares of the pipeline company’s stock valued at $259,000 after buying an additional 543 shares during the last quarter. 65.52% of the stock is owned by institutional investors and hedge funds.

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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