Morgan Stanley Initiates Coverage on Tallgrass Energy Partners LP to Equal-weight

Morgan Stanley Initiates Coverage on Tallgrass Energy Partners LP(NYSE:TEP). The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Apr 12, 2016.

In a different note, On Feb 18, 2016, Barclays said it Maintains its rating on Tallgrass Energy Partners LP. In the research note, the firm Lowers the price-target to $42.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Feb 18, 2016, Credit Suisse said it Maintains its rating on Tallgrass Energy Partners LP. In the research note, the firm Lowers the price-target to $63.00 per share. The shares have been rated ‘Outperform’ by the firm. On Jan 28, 2016, Stifel Nicolaus said it Downgrades its rating on Tallgrass Energy Partners LP. The shares have been rated ‘Hold’ by the firm.

Tallgrass Energy Partners LP (TEP) shares turned negative on Fridays trading session with the shares closing down -0.72 points or -1.86% at a volume of 1,53,870. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $38.75. The peak price level was also seen at $38.75 while the days lowest was $38.02. Finally the shares closed at $38.05. The 52-week high of the shares is $52.132 while the 52-week low is $25.82. According to the latest information available, the market cap of the company is $2,556 M.

Tallgrass Energy Partners LP(TEP) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $150.38M. Analysts had an estimated revenue of $136.56M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.54.

Several Insider Transactions has been reported to the SEC. On Jan 5, 2016, Equity, Llc Tallgrass (10% owner) purchased 2.0E7 shares at $47.68 per share price.Also, On Jan 5, 2016, Energy Holdings, Llc Tallgrass (10% owner) sold 2.0E7 shares at $47.68 per share price.On Nov 10, 2015, Terrance Daniel Towner (director) purchased 10,000 shares at $46.43 per share price, according to the Form-4 filing with the securities and exchange commission.

Tallgrass Energy Partners LP owns operates acquires and develops midstream energy assets in North America. The Company provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through Tallgrass Interstate Gas Transmission system and the Trailblazer Pipeline. The Company’s business segments include Natural Gas Transportation & Logistics which includes the ownership and operation of Federal Energy Regulatory Commission(FERC)-regulated interstate natural gas pipelines and integrated natural gas storage facilities; Crude Oil Transportation & Logistics which includes the ownership and operation of a crude oil pipeline system and Processing & Logistics which includes the ownership and operation of natural gas processing treating and fractionation facilities as well as water business services provided to the oil and gas exploration and production industry.

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