Icon Wealth Partners LLC Purchases New Position in Tallgrass Energy Partners LP (TEP)
Icon Wealth Partners LLC purchased a new position in shares of Tallgrass Energy Partners LP (NYSE:TEP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,428 shares of the pipeline company’s stock, valued at approximately $341,000.
Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Tallgrass Energy Partners by 7.2% during the 2nd 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 during the last quarter. Whalerock Point Partners LLC bought a new stake in shares of Tallgrass Energy Partners during the 4th quarter worth approximately $229,000. Texas Yale Capital Corp. bought a new stake in shares of Tallgrass Energy Partners during the 4th quarter worth approximately $307,000. Bank of New York Mellon Corp lifted its stake in shares of Tallgrass Energy Partners by 19.7% during the 2nd 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 during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Tallgrass Energy Partners by 755.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,831 shares of the pipeline company’s stock valued at $423,000 after purchasing an additional 7,799 shares in the last quarter. 62.10% of the stock is owned by hedge funds and other institutional investors.
In related news, insider David G. Dehaemers, Jr. purchased 11,350 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were acquired at an average cost of $43.14 per share, for a total transaction of $489,639.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Tallgrass Energy Partners LP (NYSE TEP) opened at $39.09 on Friday. Tallgrass Energy Partners LP has a 1 year low of $35.37 and a 1 year high of $54.25. The firm has a market capitalization of $2,890.00, a price-to-earnings ratio of 10.05 and a beta of 1.03. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 1.38.
Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. Tallgrass Energy Partners had a return on equity of 28.25% and a net margin of 66.17%. The business had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.17 million. During the same period last year, the business posted $0.51 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. equities research analysts predict that Tallgrass Energy Partners LP will post 2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a $0.965 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. This represents a $3.86 dividend on an annualized basis and a dividend yield of 9.87%. Tallgrass Energy Partners’s dividend payout ratio (DPR) is currently 99.23%.
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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.
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