Oxbow Advisors Lowers stake in Tallgrass Energy Partners LP (TEP)

Tallgrass Energy Partners LP (TEP) : Oxbow Advisors reduced its stake in Tallgrass Energy Partners LP by 16.24% during the most recent quarter end. The investment management company now holds a total of 602,884 shares of Tallgrass Energy Partners LP which is valued at $28,920,345 after selling 116,871 shares in Tallgrass Energy Partners LP , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Tallgrass Energy Partners LP makes up approximately 4.05% of Oxbow Advisors’s portfolio.

Other Hedge Funds, Including , Parkside Financial Bank Trust reduced its stake in TEP by selling 550 shares or 2.91% in the most recent quarter. The Hedge Fund company now holds 18,365 shares of TEP which is valued at $880,969. Tallgrass Energy Partners LP makes up approx 0.42% of Parkside Financial Bank Trust’s portfolio.Duff Phelps Investment Management Co boosted its stake in TEP in the latest quarter, The investment management firm added 15,600 additional shares and now holds a total of 655,000 shares of Tallgrass Energy Partners LP which is valued at $30,974,950. Tallgrass Energy Partners LP makes up approx 0.46% of Duff Phelps Investment Management Co’s portfolio.Boston Advisors boosted its stake in TEP in the latest quarter, The investment management firm added 17,100 additional shares and now holds a total of 97,110 shares of Tallgrass Energy Partners LP which is valued at $4,392,285. Tallgrass Energy Partners LP makes up approx 0.11% of Boston Advisors’s portfolio.Salient Trust Co Lta boosted its stake in TEP in the latest quarter, The investment management firm added 1,359 additional shares and now holds a total of 16,632 shares of Tallgrass Energy Partners LP which is valued at $766,902. Tallgrass Energy Partners LP makes up approx 0.08% of Salient Trust Co Lta’s portfolio. Cutler Group Lp added TEP to its portfolio by purchasing 16,163 company shares during the most recent quarter which is valued at $718,607. Tallgrass Energy Partners LP makes up approx 0.05% of Cutler Group Lp’s portfolio.

Tallgrass Energy Partners LP opened for trading at $47.53 and hit $48.495 on the upside on Monday, eventually ending the session at $47.99, with a gain of 1.59% or 0.75 points. The heightened volatility saw the trading volume jump to 1,52,951 shares. Company has a market cap of $3,461 M.

On the company’s financial health, Tallgrass Energy Partners LP reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.60. The company had revenue of $146.90 million for the quarter, compared to analysts expectations of $151.68 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

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.

Leave a Reply

Tallgrass Energy Partners LP - Is it time to Sell?

Top Brokerage Firms are advising their investors on Tallgrass Energy Partners LP. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.