Van ECK Associates Corp reduced its position in shares of Tallgrass Energy Partners LP (NYSE:TEP) by 11.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,683 shares of the pipeline company’s stock after selling 3,064 shares during the quarter. Van ECK Associates Corp’s holdings in Tallgrass Energy Partners were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of TEP. Alliancebernstein L.P. raised its holdings in Tallgrass Energy Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 9,429 shares of the pipeline company’s stock worth $502,000 after purchasing an additional 2,723 shares in the last quarter. Bank of Montreal Can raised its holdings in Tallgrass Energy Partners by 23.4% in the 2nd quarter. Bank of Montreal Can now owns 62,049 shares of the pipeline company’s stock worth $3,109,000 after purchasing an additional 11,764 shares in the last quarter. US Bancorp DE raised its holdings in Tallgrass Energy Partners by 17.3% in the 2nd quarter. US Bancorp DE now owns 7,473 shares of the pipeline company’s stock worth $375,000 after purchasing an additional 1,103 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in Tallgrass Energy Partners by 15.7% in 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 in the last quarter. Finally, Global X Management Co. LLC raised its holdings in Tallgrass Energy Partners by 29.8% in the 2nd quarter. Global X Management Co. LLC now owns 286,191 shares of the pipeline company’s stock worth $14,335,000 after purchasing an additional 65,666 shares in the last quarter. Institutional investors own 62.09% of the company’s stock.

In other news, CEO David G. Dehaemers, Jr. acquired 10,426 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $44.17 per share, with a total value of $460,516.42. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David G. Dehaemers, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were purchased at an average cost of $46.35 per share, for a total transaction of $463,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 75,369 shares of company stock valued at $3,263,508.

TEP has been the subject of several research reports. Barclays upped their price objective on shares of Tallgrass Energy Partners from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. BidaskClub lowered shares of Tallgrass Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Robert W. Baird reiterated a “buy” rating and issued a $67.00 price target on shares of Tallgrass Energy Partners in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, October 5th. Finally, ValuEngine upgraded shares of Tallgrass Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $59.11.

Shares of Tallgrass Energy Partners LP (TEP) traded up $0.73 during trading on Friday, hitting $44.65. 287,656 shares of the company traded hands, compared to its average volume of 219,811. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. The company has a market cap of $3,214.93, a price-to-earnings ratio of 11.87 and a beta of 0.99. Tallgrass Energy Partners LP has a 52 week low of $41.13 and a 52 week high of $55.50.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 8.47%. This is a positive change from Tallgrass Energy Partners’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, October 30th. Tallgrass Energy Partners’s dividend payout ratio (DPR) is presently 98.93%.

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Tallgrass Energy Partners 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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Institutional Ownership by Quarter for Tallgrass Energy Partners (NYSE:TEP)

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