Heronetta Management L.P. boosted its stake in Tallgrass Energy Partners, LP (NYSE:TEP) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,100 shares of the pipeline company’s stock after purchasing an additional 5,000 shares during the quarter. Tallgrass Energy Partners, comprises 2.9% of Heronetta Management L.P.’s investment portfolio, making the stock its 15th biggest position. Heronetta Management L.P. owned 0.15% of Tallgrass Energy Partners, worth $5,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. raised its stake in Tallgrass Energy Partners, by 15.7% in the second 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 purchasing an additional 995,864 shares in the last quarter. Alps Advisors Inc. raised its stake in 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 valued at $169,310,000 after purchasing an additional 137,800 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Tallgrass Energy Partners, by 3.4% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock valued at $167,808,000 after purchasing an additional 110,060 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in 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 valued at $53,041,000 after purchasing an additional 133,102 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in Tallgrass Energy Partners, by 3.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 953,298 shares of the pipeline company’s stock valued at $45,653,000 after purchasing an additional 30,000 shares in the last quarter. 62.20% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on TEP shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $59.00 price target (up previously from $57.00) on shares of Tallgrass Energy Partners, in a research note on Friday, July 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $69.00 price target on shares of Tallgrass Energy Partners, in a research note on Friday, July 14th. Scotiabank set a $56.00 price target on Tallgrass Energy Partners, and gave the company a “buy” rating in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tallgrass Energy Partners, in a research note on Monday, July 31st. Finally, Barclays PLC boosted their price target on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.33.

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Shares of Tallgrass Energy Partners, LP (NYSE:TEP) traded up $1.52 during midday trading on Friday, reaching $45.67. The company’s stock had a trading volume of 310,504 shares, compared to its average volume of 192,041. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.42 and a current ratio of 0.49. Tallgrass Energy Partners, LP has a 12-month low of $42.86 and a 12-month high of $55.50. The firm has a market capitalization of $3,380.00, a P/E ratio of 11.84 and a beta of 1.03.

Tallgrass Energy Partners, (NYSE:TEP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Tallgrass Energy Partners, had a return on equity of 28.11% and a net margin of 64.13%. The firm had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. equities research analysts forecast that Tallgrass Energy Partners, LP will post 3.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 8.28%. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, October 30th. Tallgrass Energy Partners,’s payout ratio is presently 98.93%.

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

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.

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

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