Tallgrass Energy Partners, LP (NYSE:TEP) Stake Boosted by Bank of Montreal Can

Bank of Montreal Can raised its stake in shares of Tallgrass Energy Partners, LP (NYSE:TEP) by 23.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,049 shares of the pipeline company’s stock after buying an additional 11,764 shares during the period. Bank of Montreal Can owned about 0.09% of Tallgrass Energy Partners, worth $3,109,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Franklin Square Holdings L.P. purchased a new position in shares of Tallgrass Energy Partners, during the first quarter valued at approximately $239,000. Koch Industries Inc. increased its position in shares of Tallgrass Energy Partners, by 11.1% in the first quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock valued at $283,000 after buying an additional 531 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Tallgrass Energy Partners, by 3.5% in the first quarter. Chicago Partners Investment Group LLC now owns 6,050 shares of the pipeline company’s stock valued at $322,000 after buying an additional 205 shares during the period. Wade G W & Inc. purchased a new position in shares of Tallgrass Energy Partners, during the first quarter valued at approximately $332,000. Finally, Clinton Group Inc. purchased a new position in shares of Tallgrass Energy Partners, during the first quarter valued at approximately $349,000. 66.46% of the stock is owned by institutional investors and hedge funds.

Tallgrass Energy Partners, LP (NYSE:TEP) opened at 45.30 on Friday. The firm has a 50-day moving average of $49.95 and a 200-day moving average of $50.68. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 20.44 and a beta of 1.03. Tallgrass Energy Partners, LP has a 52-week low of $42.59 and a 52-week high of $55.50.

Tallgrass Energy Partners, (NYSE:TEP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing the 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 firm had revenue of $160.86 million during the quarter, compared to the consensus estimate of $158.93 million. During the same period in the prior year, the business earned $0.92 earnings per share. Tallgrass Energy Partners,’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Tallgrass Energy Partners, LP will post $3.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 28th were issued a $0.925 dividend. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. This represents a $3.70 annualized dividend and a yield of 8.17%. The ex-dividend date of this dividend was Wednesday, July 26th. Tallgrass Energy Partners,’s dividend payout ratio (DPR) is currently 165.92%.

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TEP has been the topic of several research reports. Scotiabank set a $56.00 price objective on shares of Tallgrass Energy Partners, and gave the stock a “buy” rating in a report on Friday, July 21st. BidaskClub upgraded shares of Tallgrass Energy Partners, from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded shares of Tallgrass Energy Partners, from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Macquarie initiated coverage on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. They set an “outperform” rating and a $61.00 price objective on the stock. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price objective on shares of Tallgrass Energy Partners, in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $60.50.

In other news, insider David G. Dehaemers, Jr. bought 15,470 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were purchased at an average cost of $49.61 per share, with a total value of $767,466.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Brauchle purchased 3,000 shares of Tallgrass Energy Partners, stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $46.10 per share, for a total transaction of $138,300.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 63,274 shares of company stock worth $3,000,096.

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.

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

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