Tallgrass Energy Partners (TEP) Earns “Buy” Rating from Scotiabank

Scotiabank restated their buy rating on shares of Tallgrass Energy Partners (NYSE:TEP) in a research note issued to investors on Thursday. The firm currently has a $50.00 price target on the pipeline company’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a buy rating and set a $55.00 price objective on shares of Tallgrass Energy Partners in a research note on Tuesday, January 16th. Stifel Nicolaus set a $47.00 price objective on shares of Tallgrass Energy Partners and gave the company a buy rating in a research note on Thursday, February 8th. Citigroup raised shares of Tallgrass Energy Partners from a neutral rating to a buy rating in a research note on Tuesday, January 9th. Robert W. Baird reissued a buy rating on shares of Tallgrass Energy Partners in a research note on Thursday, December 7th. 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, five have given a hold rating and seven have given a buy rating to the stock. Tallgrass Energy Partners has a consensus rating of Hold and a consensus price target of $51.44.

Shares of Tallgrass Energy Partners (TEP) opened at $41.12 on Thursday. The company has a market cap of $3,009.98, a P/E ratio of 10.54 and a beta of 0.92. Tallgrass Energy Partners has a 1 year low of $35.37 and a 1 year high of $55.50. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.50.

Tallgrass Energy Partners (NYSE:TEP) last released its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.17 million. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.25%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. sell-side analysts predict that Tallgrass Energy Partners will post 2.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.965 per share. The ex-dividend date was Tuesday, January 30th. This represents a $3.86 dividend on an annualized basis and a yield of 9.39%. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s dividend payout ratio (DPR) is currently 98.97%.

In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. acquired 11,350 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was bought at an average price of $43.14 per share, with a total value of $489,639.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. acquired 31,501 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $42.50 per share, with a total value of $1,338,792.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 63,890 shares of company stock worth $2,721,728.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of 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 acquiring an additional 143 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of 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 acquiring an additional 559 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of 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 acquiring an additional 600 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Tallgrass Energy Partners by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 1,117 shares in the last quarter. Finally, BB&T Securities LLC increased its position in shares of Tallgrass Energy Partners by 5.7% in the fourth quarter. BB&T Securities LLC now owns 25,650 shares of the pipeline company’s stock worth $1,176,000 after acquiring an additional 1,375 shares in the last quarter. 61.82% of the stock is owned by institutional investors.

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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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