Zacks Investment Research upgraded shares of Tallgrass Energy Partners (NYSE:TEP) from a sell rating to a hold rating in a research note released on Thursday.
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. “
Other analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a buy rating and set a $55.00 price objective on shares of Tallgrass Energy Partners in a research report on Tuesday, January 16th. Citigroup raised Tallgrass Energy Partners from a neutral rating to a buy rating in a research report on Tuesday, January 9th. Stifel Nicolaus set a $47.00 price objective on Tallgrass Energy Partners and gave the stock a buy rating in a research report on Thursday, February 8th. Robert W. Baird reaffirmed a buy rating on shares of Tallgrass Energy Partners in a research report on Thursday, December 7th. Finally, Scotiabank reaffirmed a buy rating and set a $50.00 price objective on shares of Tallgrass Energy Partners in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Tallgrass Energy Partners presently has an average rating of Hold and a consensus target price of $50.11.
Tallgrass Energy Partners (NYSE:TEP) last released its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.17 million. Tallgrass Energy Partners had a return on equity of 28.25% and a net margin of 66.17%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. analysts expect that Tallgrass Energy Partners will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.965 per share. This represents a $3.86 dividend on an annualized basis and a yield of 9.67%. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, January 30th. Tallgrass Energy Partners’s dividend payout ratio (DPR) is presently 99.23%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at approximately $101,000. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 valued at $107,000 after buying an additional 143 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Tallgrass Energy Partners by 207.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,520 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,700 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at approximately $133,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of Tallgrass Energy Partners in the 4th quarter valued at approximately $218,000. 61.14% of the stock is owned by institutional investors and hedge funds.
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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.
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