Tallgrass Energy Partners, LP (TEP) Lifted to “Buy” at ValuEngine

Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, October 6th.

A number of other brokerages have also recently issued reports on TEP. BidaskClub upgraded Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $59.00 target price (up from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $69.00 target price on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Scotiabank set a $56.00 target price on Tallgrass Energy Partners, and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Tallgrass Energy Partners, in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Tallgrass Energy Partners, currently has an average rating of “Hold” and an average target price of $59.33.

Shares of Tallgrass Energy Partners, (NYSE TEP) opened at 46.274 on Friday. Tallgrass Energy Partners, has a 52-week low of $42.59 and a 52-week high of $55.50. The stock has a 50 day moving average of $47.57 and a 200 day moving average of $49.08. The company has a market cap of $3.39 billion, a P/E ratio of 20.882 and a beta of 1.04.

Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $160.86 million for the quarter, compared to the consensus estimate of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. Tallgrass Energy Partners,’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities analysts anticipate that Tallgrass Energy Partners, will post $4.00 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted 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 buying an additional 143 shares during the last quarter. Ffcm LLC increased its stake in Tallgrass Energy Partners, by 217.7% in the 2nd quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 1,548 shares during the period. Penserra Capital Management LLC increased its stake in Tallgrass Energy Partners, by 300.3% in the 2nd quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 2,144 shares during the period. Doliver Capital Advisors LP purchased a new position in Tallgrass Energy Partners, in the 2nd quarter worth approximately $216,000. Finally, Franklin Square Holdings L.P. purchased a new position in Tallgrass Energy Partners, in the 1st quarter worth approximately $239,000. Institutional investors own 62.09% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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