Tallgrass Energy Partners LP (TEP) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 49

Tallgrass Energy Partners LP (TEP) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 49 from a previous price target of $36 . Barclays advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on Tallgrass Energy Partners LP. Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .Shares were Reiterated by Barclays on Feb 18, 2016 to “Equal Weight” and Lowered the Price Target to $ 36 from a previous price target of $42 .Shares were Reiterated by RBC Capital Mkts on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $48 .

On the company’s financial health, Tallgrass Energy Partners LP reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.57. The company had revenue of $145.40 million for the quarter, compared to analysts expectations of $147.53 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Tallgrass Energy Partners LP closed down -0.2 points or -0.52% at $37.99 with 2,50,923 shares getting traded on Wednesday. Post opening the session at $38.28, the shares hit an intraday low of $37.66 and an intraday high of $39.425 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Nov 10, 2015, Terrance Daniel Towner (director) purchased 10,000 shares at $46.43 per share price. According to the SEC, on Sep 14, 2015, David G Jr Dehaemers (CEO) purchased 5,000 shares at $42.98 per share price. On Aug 31, 2015, William R. Moler (director officer ) purchased 4,000 shares at $45.86 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.

Tallgrass Energy Partners LP

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