Citigroup upgraded shares of Tallgrass Energy Partners (NYSE:TEP) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat reports.

A number of other research firms have also issued reports on TEP. Stifel Nicolaus reissued a buy rating and set a $64.00 price target on shares of Tallgrass Energy Partners in a report on Thursday, October 12th. ValuEngine raised Tallgrass Energy Partners from a hold rating to a buy rating in a report on Friday, October 6th. Zacks Investment Research lowered Tallgrass Energy Partners from a buy rating to a hold rating in a report on Saturday, October 14th. US Capital Advisors downgraded shares of Tallgrass Energy Partners from an overweight rating to a hold rating in a research report on Thursday, January 4th. Finally, Barclays restated a hold rating and issued a $55.00 price objective on shares of Tallgrass Energy Partners in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $59.11.

Tallgrass Energy Partners (NYSE TEP) traded up $0.23 during midday trading on Tuesday, hitting $46.32. The company had a trading volume of 550,316 shares, compared to its average volume of 342,945. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. Tallgrass Energy Partners has a 52-week low of $41.13 and a 52-week high of $55.50. The stock has a market capitalization of $3,373.78, a price-to-earnings ratio of 12.39 and a beta of 0.99.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be given a $0.965 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $3.86 dividend on an annualized basis and a yield of 8.33%. This is an increase from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s dividend payout ratio (DPR) is presently 101.07%.

In related news, insider David G. Dehaemers, Jr. purchased 715 shares of Tallgrass Energy Partners stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $44.00 per share, for a total transaction of $31,460.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David G. Dehaemers, Jr. purchased 10,000 shares of Tallgrass Energy Partners stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $46.35 per share, with a total value of $463,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 86,719 shares of company stock valued at $3,753,147.

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of Tallgrass Energy Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock valued at $500,000 after acquiring an additional 559 shares during the period. Green Square Capital LLC acquired a new stake in shares of Tallgrass Energy Partners during the 2nd quarter valued at approximately $258,000. Duff & Phelps Investment Management Co. lifted its position in shares of Tallgrass Energy Partners by 3.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 953,298 shares of the pipeline company’s stock valued at $45,653,000 after acquiring an additional 30,000 shares during the period. Harvest Fund Advisors LLC increased its stake in shares of Tallgrass Energy Partners by 6.1% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after purchasing an additional 107,897 shares in the last quarter. Finally, RR Advisors LLC increased its stake in shares of Tallgrass Energy Partners by 0.3% during the 3rd quarter. RR Advisors LLC now owns 1,074,000 shares of the pipeline company’s stock worth $51,367,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors 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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