Tallgrass Energy Partners LP (TEP) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.92 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.32. Analysts had a consensus of $0.60. The company posted revenue of $146.90 million in the period, 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 opened for trading at $46.66 and hit $47.19 on the upside on Tusday, eventually ending the session at $46.43, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 3,21,179 shares. Company has a market cap of $3,347 M.
In a different news, on May 27, 2016, David G Jr Dehaemers (CEO) purchased 7,500 shares at $43.45 per share price. According to the SEC, on Nov 10, 2015, Terrance Daniel Towner (director) purchased 10,000 shares at $46.43 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 Companys 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.