Oxbow Advisors LLC lessened its holdings in shares of Tallgrass Energy Partners LP (NYSE:TEP) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 635,492 shares of the pipeline company’s stock after selling 4,491 shares during the period. Tallgrass Energy Partners comprises about 3.5% of Oxbow Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Oxbow Advisors LLC’s holdings in Tallgrass Energy Partners were worth $27,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in Tallgrass Energy Partners by 59.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,020 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 1,500 shares during the period. BNP Paribas Arbitrage SA bought a new position in Tallgrass Energy Partners during the first quarter worth about $154,000. Baldwin Brothers Inc. MA bought a new position in Tallgrass Energy Partners during the second quarter worth about $197,000. Eagle Global Advisors LLC bought a new position in shares of Tallgrass Energy Partners in the first quarter valued at approximately $221,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Tallgrass Energy Partners by 33.7% in the first quarter. Commonwealth Equity Services LLC now owns 7,446 shares of the pipeline company’s stock valued at $282,000 after acquiring an additional 1,876 shares during the period. Hedge funds and other institutional investors own 57.01% of the company’s stock.

In other Tallgrass Energy Partners news, major shareholder Tallgrass Energy Holdings, Llc purchased 25,645 shares of the company’s stock in a transaction on Thursday, June 28th. The stock was acquired at an average cost of $44.53 per share, for a total transaction of $1,141,971.85. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NYSE:TEP opened at $43.31 on Tuesday. The company has a market cap of $3.17 billion, a P/E ratio of 11.49 and a beta of 1.01. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 1.46. Tallgrass Energy Partners LP has a 12-month low of $34.37 and a 12-month high of $52.84.

A number of equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Tallgrass Energy Partners from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Citigroup lifted their target price on shares of Tallgrass Energy Partners from $41.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. Barclays set a $26.00 target price on shares of Tallgrass Energy Partners and gave the stock a “hold” rating in a research note on Thursday, August 16th. Finally, Royal Bank of Canada cut shares of Tallgrass Energy Partners from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.50.

Tallgrass Energy Partners Profile

Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. It operates through Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling segments. The Natural Gas Transportation segment engages in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,641 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska.

Recommended Story: Stock Symbol

Want to see what other hedge funds are holding TEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy Partners LP (NYSE:TEP).

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

Receive News & Ratings for Tallgrass Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.