Tallgrass Energy Partners (NYSE:TEP)‘s stock had its “buy” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday. They currently have a $55.00 price target on the pipeline company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.74% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Tallgrass Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Citigroup upgraded shares of Tallgrass Energy Partners from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. Credit Suisse Group started coverage on shares of Tallgrass Energy Partners in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine downgraded shares of Tallgrass Energy Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.56.

Shares of Tallgrass Energy Partners (NYSE:TEP) traded up $0.23 during trading on Tuesday, reaching $46.32. 550,300 shares of the company’s stock were exchanged, compared to its average volume of 509,822. The firm has a market capitalization of $3,430.00, a P/E ratio of 12.39 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. Tallgrass Energy Partners has a 12-month low of $41.13 and a 12-month high of $55.50.

Tallgrass Energy Partners (NYSE:TEP) last announced its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.01. Tallgrass Energy Partners had a net margin of 64.13% and a return on equity of 27.58%. research analysts forecast that Tallgrass Energy Partners will post 3.91 earnings per share for the current year.

In other Tallgrass Energy Partners news, insider David G. Dehaemers, Jr. acquired 31,501 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was acquired at an average price of $42.50 per share, for a total transaction of $1,338,792.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David G. Dehaemers, Jr. acquired 1,688 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $44.99 per share, with a total value of $75,943.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 86,719 shares of company stock worth $3,753,147.

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Tallgrass Energy Partners by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,140 shares of the pipeline company’s stock valued at $107,000 after buying an additional 143 shares during the last quarter. Doliver Capital Advisors LP bought a new position in Tallgrass Energy Partners in the 2nd quarter valued at approximately $216,000. Whalerock Point Partners LLC bought a new position in Tallgrass Energy Partners in the 4th quarter valued at approximately $229,000. Green Square Capital LLC bought a new position in Tallgrass Energy Partners in the 2nd quarter valued at approximately $258,000. Finally, Bank of New York Mellon Corp raised its holdings in Tallgrass Energy Partners by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,794 shares of the pipeline company’s stock valued at $341,000 after buying an additional 1,117 shares during the last quarter. Institutional investors and hedge funds own 62.09% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy Partners (NYSE:TEP)

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