Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities analysts also recently weighed in on the company. Scotiabank set a $56.00 price target on Tallgrass Energy Partners, and gave the stock a “buy” rating in a research report on Friday, July 21st. Barclays PLC raised their price target on Tallgrass Energy Partners, from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. BidaskClub raised Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and set a $59.00 price target (up previously from $57.00) on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Finally, Robert W. Baird reissued a “buy” rating and set a $67.00 price target on shares of Tallgrass Energy Partners, in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $60.56.

Tallgrass Energy Partners, (TEP) opened at 48.63 on Friday. The firm’s 50-day moving average price is $46.87 and its 200-day moving average price is $49.37. Tallgrass Energy Partners, has a 1-year low of $42.59 and a 1-year high of $55.50. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 21.94 and a beta of 1.04.

Tallgrass Energy Partners, (NYSE:TEP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, equities research analysts anticipate that Tallgrass Energy Partners, will post $4.01 earnings per share for the current year.

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In other Tallgrass Energy Partners, news, insider David G. Dehaemers, Jr. acquired 17,350 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $44.64 per share, with a total value of $774,504.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary J. Brauchle acquired 3,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $46.10 per share, with a total value of $138,300.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 30,350 shares of company stock valued at $1,364,104.

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Tallgrass Energy Partners, by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 143 shares during the last quarter. Ffcm LLC boosted its holdings in Tallgrass Energy Partners, by 217.7% in the second quarter. Ffcm LLC now owns 2,259 shares of the pipeline company’s stock valued at $115,000 after acquiring an additional 1,548 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Tallgrass Energy Partners, by 300.3% in the second quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 2,144 shares during the last quarter. Doliver Capital Advisors LP acquired a new position in Tallgrass Energy Partners, in the second quarter valued at $216,000. Finally, Franklin Square Holdings L.P. acquired a new position in Tallgrass Energy Partners, in the first quarter valued at $239,000. 62.09% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

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