Zacks Investment Research Upgrades Tallgrass Energy Partners, LP (NYSE:TEP) to Hold

Zacks Investment Research upgraded shares of Tallgrass Energy Partners, LP (NYSE:TEP) from a sell rating to a hold rating in a research report sent to investors on Friday, November 10th.

According to Zacks, “Tallgrass Energy Partners, L.P. owns, operates, acquires and develops midstream energy assets primarily in North America. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through pipelines and natural gas processing assets. Tallgrass Energy Partners, LP is based in Overland Park, Kansas. “

TEP has been the subject of a number of other research reports. Barclays PLC restated a hold rating and set a $55.00 price objective on shares of Tallgrass Energy Partners, in a research report on Thursday, October 19th. ValuEngine upgraded Tallgrass Energy Partners, from a hold rating to a buy rating in a research report on Friday, October 6th. Robert W. Baird reissued a buy rating and issued a $67.00 price objective on shares of Tallgrass Energy Partners, in a research note on Thursday, August 24th. BidaskClub downgraded Tallgrass Energy Partners, from a hold rating to a sell rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $60.00 price objective on shares of Tallgrass Energy Partners, in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $59.11.

Shares of Tallgrass Energy Partners, (TEP) opened at $43.36 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35. Tallgrass Energy Partners, has a twelve month low of $42.65 and a twelve month high of $55.50. The stock has a market capitalization of $3,130.02, a P/E ratio of 11.56 and a beta of 1.01.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.945 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $3.78 dividend on an annualized basis and a yield of 8.72%. This is an increase from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. Tallgrass Energy Partners,’s payout ratio is 98.93%.

In other news, CEO David G. Dehaemers, Jr. acquired 10,426 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $44.17 per share, for a total transaction of $460,516.42. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David G. Dehaemers, Jr. acquired 1,688 shares of the firm’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. In the last quarter, insiders have bought 37,829 shares of company stock valued at $1,675,970.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Tallgrass Energy Partners, by 2.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after acquiring an additional 195,068 shares in the last quarter. Alps Advisors Inc. grew its holdings in Tallgrass Energy Partners, by 13.0% during the third quarter. Alps Advisors Inc. now owns 3,818,712 shares of the pipeline company’s stock worth $182,878,000 after purchasing an additional 438,600 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Tallgrass Energy Partners, by 3.4% during the second quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock worth $167,808,000 after purchasing an additional 110,060 shares during the period. Harvest Fund Advisors LLC boosted its holdings in shares of Tallgrass Energy Partners, by 6.1% during the third quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after acquiring an additional 107,897 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Tallgrass Energy Partners, by 2.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,084,722 shares of the pipeline company’s stock worth $51,947,000 after acquiring an additional 25,818 shares during the period. 53.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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