Tallgrass Energy Partners, LP (NYSE:TEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $54.00 price target on the pipeline company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.13% from the company’s current price.

According to Zacks, “Tallgrass Energy Partners, L.P. owns, operates, acquires and develops midstream energy assets primarily in North America. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through pipelines and natural gas processing assets. Tallgrass Energy Partners, LP is based in Overland Park, Kansas. “

Other analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Barclays PLC lifted their target price on shares of Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Tallgrass Energy Partners, in a report on Monday, July 31st. Scotiabank set a $56.00 target price on shares of Tallgrass Energy Partners, and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $59.00 target price (up previously from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.56.

Shares of Tallgrass Energy Partners, (NYSE:TEP) opened at 48.59 on Thursday. The company has a 50 day moving average price of $46.95 and a 200-day moving average price of $49.35. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 21.93 and a beta of 1.04. Tallgrass Energy Partners, has a one year low of $42.59 and a one year high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Tallgrass Energy Partners, had a net margin of 46.63% and a return on equity of 20.47%. The company had revenue of $160.86 million during the quarter, compared to analyst estimates of $158.93 million. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Tallgrass Energy Partners, will post $4.01 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Upgrades Tallgrass Energy Partners, LP (TEP) to Buy” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/07/zacks-investment-research-upgrades-tallgrass-energy-partners-lp-tep-to-buy.html.

In other Tallgrass Energy Partners, news, insider Gary J. Brauchle purchased 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $46.10 per share, for a total transaction of $138,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. purchased 17,350 shares of the company’s stock in a transaction on 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 disclosure for this purchase can be found here. In the last 90 days, insiders acquired 30,350 shares of company stock valued at $1,364,104.

Several institutional investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of Tallgrass Energy Partners, by 15.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,327,764 shares of the pipeline company’s stock worth $367,048,000 after purchasing an additional 995,864 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Tallgrass Energy Partners, by 4.3% during the 2nd quarter. Alps Advisors Inc. now owns 3,380,112 shares of the pipeline company’s stock worth $169,310,000 after purchasing an additional 137,800 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Tallgrass Energy Partners, by 3.4% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,350,309 shares of the pipeline company’s stock worth $167,808,000 after purchasing an additional 110,060 shares during the last quarter. Morgan Stanley lifted its position in shares of Tallgrass Energy Partners, by 3.1% during the 1st quarter. Morgan Stanley now owns 2,506,358 shares of the pipeline company’s stock worth $133,337,000 after purchasing an additional 75,518 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Tallgrass Energy Partners, by 13.7% during the 1st quarter. Bank of America Corp DE now owns 1,655,913 shares of the pipeline company’s stock worth $88,095,000 after purchasing an additional 199,309 shares during the last quarter. 62.09% of the stock is owned by institutional investors and hedge funds.

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.

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

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