BidaskClub Upgrades Tallgrass Energy Partners, LP (TEP) to Sell

Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on TEP. Zacks Investment Research upgraded Tallgrass Energy Partners, from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, March 8th. Mitsubishi UFJ Financial Group initiated coverage on Tallgrass Energy Partners, in a report on Wednesday, April 19th. They issued a “hold” rating and a $58.00 price target on the stock. Macquarie initiated coverage on Tallgrass Energy Partners, in a report on Friday, April 21st. They issued an “outperform” rating and a $61.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price target on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. Finally, Scotiabank reiterated a “buy” rating and issued a $56.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.29.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

Shares of Tallgrass Energy Partners, (TEP) traded up 1.84% during trading on Friday, reaching $47.01. The company’s stock had a trading volume of 311,396 shares. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 19.47 and a beta of 1.03. Tallgrass Energy Partners, has a 12-month low of $42.54 and a 12-month high of $55.50. The company has a 50 day moving average of $48.97 and a 200-day moving average of $50.10.

Tallgrass Energy Partners, (NYSE:TEP) last issued its quarterly earnings data 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. Tallgrass Energy Partners, had a net margin of 48.06% and a return on equity of 18.77%. The company had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $160.56 million. During the same quarter last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts forecast that Tallgrass Energy Partners, will post $3.34 EPS for the current year.

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In other news, insider David G. Dehaemers, Jr. acquired 4,021 shares of Tallgrass Energy Partners, stock in a transaction on Tuesday, June 6th. The shares were bought at an average cost of $47.30 per share, for a total transaction of $190,193.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 5,000 shares of Tallgrass Energy Partners, stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $49.75 per share, for a total transaction of $248,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 91,290 shares of company stock worth $4,406,923.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its position in Tallgrass Energy Partners, by 3.0% in the first quarter. Clearbridge Investments LLC now owns 810,480 shares of the pipeline company’s stock valued at $43,118,000 after buying an additional 23,850 shares during the last quarter. Pointe Capital Management LLC purchased a new position in Tallgrass Energy Partners, during the first quarter valued at approximately $1,619,000. HighTower Advisors LLC increased its position in Tallgrass Energy Partners, by 16.8% in the first quarter. HighTower Advisors LLC now owns 31,041 shares of the pipeline company’s stock valued at $1,654,000 after buying an additional 4,471 shares during the last quarter. Barings LLC increased its position in Tallgrass Energy Partners, by 88.4% in the first quarter. Barings LLC now owns 40,700 shares of the pipeline company’s stock valued at $2,165,000 after buying an additional 19,100 shares during the last quarter. Finally, Franklin Square Holdings L.P. purchased a new position in Tallgrass Energy Partners, during the first quarter valued at approximately $239,000. Institutional investors own 65.52% of the company’s stock.

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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