Kayne Anderson Capital Advisors LP decreased its holdings in Tallgrass Energy Partners, LP (NYSE:TEP) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,335,556 shares of the pipeline company’s stock after selling 14,753 shares during the quarter. Tallgrass Energy Partners, accounts for about 2.0% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 15th largest position. Kayne Anderson Capital Advisors LP owned approximately 4.56% of Tallgrass Energy Partners, worth $159,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in Tallgrass Energy Partners, by 4.1% during the third quarter. SG Americas Securities LLC now owns 55,914 shares of the pipeline company’s stock valued at $2,678,000 after purchasing an additional 2,193 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in Tallgrass Energy Partners, by 26.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 363,099 shares of the pipeline company’s stock valued at $17,389,000 after purchasing an additional 76,908 shares in the last quarter. Alps Advisors Inc. lifted 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 valued at $182,878,000 after purchasing an additional 438,600 shares in the last quarter. Jennison Associates LLC lifted its holdings in Tallgrass Energy Partners, by 19.7% during the third quarter. Jennison Associates LLC now owns 479,857 shares of the pipeline company’s stock valued at $22,980,000 after purchasing an additional 79,037 shares in the last quarter. Finally, Advantus Capital Management Inc lifted its holdings in Tallgrass Energy Partners, by 20.0% during the third quarter. Advantus Capital Management Inc now owns 43,800 shares of the pipeline company’s stock valued at $2,098,000 after purchasing an additional 7,300 shares in the last quarter. 53.07% of the stock is currently owned by institutional investors.

Shares of Tallgrass Energy Partners, LP (NYSE:TEP) traded down $0.64 on Wednesday, reaching $42.76. 309,900 shares of the company traded hands, compared to its average volume of 226,695. Tallgrass Energy Partners, LP has a 12 month low of $42.65 and a 12 month high of $55.50. The company has a market capitalization of $3,176.87, a PE ratio of 11.73 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.50.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 8.84%. The ex-dividend date was Monday, October 30th. This is a boost from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. Tallgrass Energy Partners,’s payout ratio is currently 98.93%.

Several brokerages have weighed in on TEP. Barclays PLC reaffirmed a “hold” rating and set a $55.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, October 19th. ValuEngine raised shares of Tallgrass Energy Partners, from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and set a $67.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, August 24th. Zacks Investment Research downgraded shares of Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a report on Saturday, October 14th. Finally, BidaskClub downgraded shares of Tallgrass Energy Partners, from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.11.

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In other Tallgrass Energy Partners, news, CEO David G. Dehaemers, Jr. purchased 1,688 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $44.99 per share, for a total transaction of $75,943.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David G. Dehaemers, Jr. purchased 10,426 shares of Tallgrass Energy Partners, stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $44.17 per share, for a total transaction of $460,516.42. The disclosure for this purchase can be found here. Insiders purchased 37,829 shares of company stock worth $1,675,970 in the last 90 days.

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.

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

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