Tallgrass Energy Partners (TEP) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group initiated coverage on shares of Tallgrass Energy Partners (NYSE:TEP) in a research report issued on Thursday, January 4th, Marketbeat.com reports. The firm set a “neutral” rating on the pipeline company’s stock.

Other analysts have also issued reports about the stock. Barclays reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Tallgrass Energy Partners in a research note on Thursday, October 19th. ValuEngine raised shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Morgan Stanley reduced their target price on shares of Tallgrass Energy Partners from $59.00 to $57.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $58.56.

Shares of Tallgrass Energy Partners (NYSE:TEP) opened at $45.20 on Thursday. The stock has a market cap of $3,308.63, a price-to-earnings ratio of 12.09 and a beta of 0.99. Tallgrass Energy Partners has a one year low of $41.13 and a one year high of $55.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55.

Tallgrass Energy Partners (NYSE:TEP) last issued its earnings results on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.01. Tallgrass Energy Partners had a net margin of 64.13% and a return on equity of 27.58%. sell-side analysts predict that Tallgrass Energy Partners will post 3.93 EPS for the current fiscal year.

In related news, CEO David G. Dehaemers, Jr. acquired 1,688 shares of the stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $75,943.12. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider David G. Dehaemers, Jr. acquired 715 shares of the stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $44.00 per share, for a total transaction of $31,460.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 86,719 shares of company stock worth $3,753,147.

A number of institutional investors have recently added to or reduced their stakes in the business. CNH Partners LLC boosted its position in Tallgrass Energy Partners by 0.9% in the 2nd quarter. CNH Partners LLC now owns 11,360 shares of the pipeline company’s stock worth $569,000 after purchasing an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Tallgrass Energy Partners by 7.2% in the 2nd 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 in the last quarter. Stephens Inc. AR boosted its position in Tallgrass Energy Partners by 1.9% in the 2nd quarter. Stephens Inc. AR now owns 18,335 shares of the pipeline company’s stock worth $918,000 after purchasing an additional 339 shares in the last quarter. Alliancebernstein L.P. boosted its position in Tallgrass Energy Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after purchasing an additional 559 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Tallgrass Energy Partners by 3.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,627 shares of the pipeline company’s stock valued at $983,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 62.08% of the company’s stock.

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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, 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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