ValuEngine upgraded shares of Tallgrass Energy Partners, LP (NYSE:TEP) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other brokerages have also recently commented on TEP. Stifel Nicolaus reaffirmed a buy rating and set a $69.00 price target on shares of Tallgrass Energy Partners, in a research report on Friday, July 14th. Scotiabank set a $56.00 price target on shares of Tallgrass Energy Partners, and gave the company a buy rating in a research report on Friday, July 21st. Morgan Stanley reaffirmed 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. Royal Bank Of Canada reaffirmed a buy rating and set a $60.00 price target on shares of Tallgrass Energy Partners, in a research report on Monday, July 31st. Finally, BidaskClub raised shares of Tallgrass Energy Partners, from a sell rating to a hold rating in a research report on Saturday, July 1st. One investment 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 has an average rating of Buy and a consensus target price of $60.56.

Tallgrass Energy Partners, (TEP) opened at 48.08 on Friday. The firm’s 50-day moving average price is $47.03 and its 200 day moving average price is $49.29. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 21.70 and a beta of 1.04. Tallgrass Energy Partners, has a 12-month low of $42.59 and a 12-month high of $55.50.

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

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In related news, insider Gary J. Brauchle acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $46.10 per share, with a total value of $138,300.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David G. Dehaemers, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $45.13 per share, for a total transaction of $451,300.00. The disclosure for this purchase can be found here. Insiders have bought a total of 30,350 shares of company stock worth $1,364,104 in the last three months.

Hedge funds have recently added to or reduced their stakes in the company. Suncoast Equity Management boosted its position in shares of Tallgrass Energy Partners, by 19.9% during the 2nd quarter. Suncoast Equity Management now owns 6,710 shares of the pipeline company’s stock worth $336,000 after purchasing an additional 1,115 shares in the last quarter. Boyer & Corporon Wealth Management LLC bought a new position in shares of Tallgrass Energy Partners, during the 2nd quarter worth about $2,165,000. BP Capital Fund Advisors LLC boosted its position in shares of Tallgrass Energy Partners, by 135.6% during the 1st quarter. BP Capital Fund Advisors LLC now owns 39,321 shares of the pipeline company’s stock worth $2,092,000 after purchasing an additional 22,633 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Tallgrass Energy Partners, by 14.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,058,904 shares of the pipeline company’s stock worth $53,041,000 after purchasing an additional 133,102 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of Tallgrass Energy Partners, by 300.3% during the 2nd quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 2,144 shares in the last quarter. 62.09% of the stock is currently owned by institutional investors.

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.

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

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