Ffcm LLC Raises Holdings in Tallgrass Energy Partners, LP (TEP)

Ffcm LLC increased its stake in Tallgrass Energy Partners, LP (NYSE:TEP) by 217.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,259 shares of the pipeline company’s stock after buying an additional 1,548 shares during the quarter. Ffcm LLC’s holdings in Tallgrass Energy Partners, were worth $115,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TEP. Tortoise Capital Advisors L.L.C. raised its stake in Tallgrass Energy Partners, by 15.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock valued at $367,048,000 after acquiring an additional 995,864 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of Tallgrass Energy Partners, by 6.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,240,249 shares of the pipeline company’s stock worth $172,370,000 after purchasing an additional 204,708 shares during the last quarter. Bank of America Corp DE increased its position in shares of Tallgrass Energy Partners, by 13.7% in the first quarter. Bank of America Corp DE now owns 1,655,913 shares of the pipeline company’s stock worth $88,095,000 after purchasing an additional 199,309 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Tallgrass Energy Partners, by 4.3% in the second quarter. Alps Advisors Inc. now owns 3,380,112 shares of the pipeline company’s stock worth $169,310,000 after purchasing an additional 137,800 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Tallgrass Energy Partners, by 14.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock worth $53,041,000 after purchasing an additional 133,102 shares during the last quarter. Institutional investors and hedge funds own 62.11% of the company’s stock.

Shares of Tallgrass Energy Partners, LP (NYSE:TEP) traded down 0.33% on Friday, reaching $48.41. The company’s stock had a trading volume of 25,946 shares. The firm has a 50 day moving average price of $47.40 and a 200-day moving average price of $49.94. The stock has a market cap of $3.54 billion, a PE ratio of 21.85 and a beta of 1.05. Tallgrass Energy Partners, LP has a 12-month low of $42.59 and a 12-month high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The business had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. Tallgrass Energy Partners, had a net margin of 46.63% and a return on equity of 20.47%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Equities research analysts expect that Tallgrass Energy Partners, LP will post $3.91 EPS for the current year.

Several analysts have issued reports on TEP shares. Scotiabank set a $56.00 target price on Tallgrass Energy Partners, and gave the stock a “buy” rating in a research note on Friday, July 21st. BidaskClub upgraded Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Barclays PLC upped their target price on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $59.00 price objective (up previously from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Finally, Robert W. Baird restated a “buy” rating and set a $67.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.22.

COPYRIGHT VIOLATION WARNING: This article was posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://baseballnewssource.com/markets/ffcm-llc-boosts-position-in-tallgrass-energy-partners-lp-tep/1602045.html.

In related news, insider Gary J. Brauchle purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $46.10 per share, for a total transaction of $138,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David G. Dehaemers, Jr. acquired 17,350 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $44.64 per share, with a total value of $774,504.00. The disclosure for this purchase can be found here. Insiders acquired a total of 30,350 shares of company stock valued at $1,364,104 over the last quarter.

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.

Institutional Ownership by Quarter for Tallgrass Energy Partners, (NYSE:TEP)

Receive News & Ratings for Tallgrass Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners LP and related companies with our FREE daily email newsletter.

 


Latest News

New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw


Leave a Reply

 
© 2006-2017 BBNS.