Tallgrass Energy Partners (TEP) Upgraded at Citigroup

Citigroup upgraded shares of Tallgrass Energy Partners (NYSE:TEP) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat Ratings reports.

A number of other equities analysts have also recently issued reports on TEP. US Capital Advisors cut shares of Tallgrass Energy Partners from an overweight rating to a hold rating in a research note on Thursday, January 4th. ValuEngine cut shares of Tallgrass Energy Partners from a buy rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Tallgrass Energy Partners from a hold rating to a buy rating and set a $54.00 price objective on the stock in a research note on Thursday, October 5th. Credit Suisse Group assumed coverage on shares of Tallgrass Energy Partners in a research note on Thursday, January 4th. They issued a neutral rating on the stock. Finally, Morgan Stanley reduced their price objective on shares of Tallgrass Energy Partners from $59.00 to $57.00 and set an equal weight rating on the stock in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $59.11.

Shares of Tallgrass Energy Partners (NYSE:TEP) traded up $0.54 during mid-day trading on Tuesday, reaching $46.09. 536,300 shares of the company’s stock were exchanged, compared to its average volume of 504,762. Tallgrass Energy Partners has a 1 year low of $41.13 and a 1 year high of $55.50. The company has a market capitalization of $3,420.00, a PE ratio of 12.32 and a beta of 1.01. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a $0.965 dividend. The ex-dividend date is Tuesday, January 30th. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. This represents a $3.86 annualized dividend and a yield of 8.37%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is 68.98%.

In other news, insider David G. Dehaemers, Jr. bought 11,350 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $43.14 per share, for a total transaction of $489,639.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David G. Dehaemers, Jr. bought 1,688 shares of the business’s stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $75,943.12. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 86,719 shares of company stock worth $3,753,147.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CNH Partners LLC raised its holdings in Tallgrass Energy Partners by 0.9% in the second quarter. CNH Partners LLC now owns 11,360 shares of the pipeline company’s stock worth $569,000 after purchasing an additional 100 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Tallgrass Energy Partners by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 143 shares during the period. Stephens Inc. AR raised its holdings in Tallgrass Energy Partners by 1.9% in the second quarter. Stephens Inc. AR now owns 18,335 shares of the pipeline company’s stock worth $918,000 after purchasing an additional 339 shares during the period. Alliancebernstein L.P. raised its holdings in Tallgrass Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after purchasing an additional 559 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Tallgrass Energy Partners by 3.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,627 shares of the pipeline company’s stock worth $983,000 after purchasing an additional 600 shares during the period. Institutional investors own 62.09% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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