RBC Capital Gives Tallgrass Energy Partners (NYSE:TEP) a Lower Rating. Drops its Outperform Rating

May 17, 2018 - By Jimmy Baldridge

Investors sentiment decreased to 1.11 in Q4 2017. Its down 0.10, from 1.21 in 2017Q3. It dived, as 16 investors sold Tallgrass Energy Partners, LP shares while 41 reduced holdings. 19 funds opened positions while 44 raised stakes. 42.76 million shares or 1.73% less from 43.51 million shares in 2017Q3 were reported.

Tortoise Capital Advsr Ltd Co accumulated 7.54 million shares or 2.27% of the stock. Tiedemann Wealth Lc invested in 22,389 shares. Asset Mngmt holds 6,269 shares or 0% of its portfolio. Botty Investors Lc, a Illinois-based fund reported 956 shares. Naples Advsr owns 4,950 shares. Citigroup stated it has 0% in Tallgrass Energy Partners, LP (NYSE:TEP). Boston Advisors holds 0.06% in Tallgrass Energy Partners, LP (NYSE:TEP) or 65,230 shares. 93,899 are owned by Cohen Steers. Hilton Cap Limited Liability Com has 0.07% invested in Tallgrass Energy Partners, LP (NYSE:TEP). Van Eck Associates has 0% invested in Tallgrass Energy Partners, LP (NYSE:TEP). Cadence Capital Management Lc reported 121,608 shares or 0.35% of all its holdings. Moreover, Groesbeck Inv Management Corp Nj has 0.65% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 20,075 shares. Captrust Advsr reported 2,910 shares. X Management Communications Limited Liability Company holds 472,544 shares or 0.49% of its portfolio. First Manhattan Communications reported 3,726 shares.

Tallgrass Energy Partners (NYSE:TEP) Receives a Downgrade

RBC Capital has downgraded the rating for shares of Tallgrass Energy Partners (NYSE:TEP) to a solid Sector Perform in analysts note issued to clients and investors on 17 May. TEP’s previous rating by the firm was a Outperform.

Tallgrass Energy Partners, LP (NYSE:TEP) Ratings Coverage

Among 9 analysts covering Tallgrass Energy (NYSE:TEP), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. Tallgrass Energy has $67.0 highest and $41 lowest target. $47.50’s average target is 9.83% above currents $43.25 stock price. Tallgrass Energy had 20 analyst reports since December 4, 2017 according to SRatingsIntel. Scotia Capital maintained Tallgrass Energy Partners, LP (NYSE:TEP) rating on Monday, January 29. Scotia Capital has “Buy” rating and $55.0 target. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) has “Buy” rating given on Tuesday, January 16 by RBC Capital Markets. Stifel Nicolaus maintained Tallgrass Energy Partners, LP (NYSE:TEP) on Thursday, February 8 with “Buy” rating. On Monday, December 4 the stock rating was maintained by Robert W. Baird with “Buy”. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) has “Buy” rating given on Wednesday, February 14 by Scotia Capital. The rating was maintained by Morgan Stanley on Friday, February 9 with “Equal-Weight”. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, January 2. The company was downgraded on Thursday, January 4 by U.S. Capital Advisors. The rating was upgraded by Barclays Capital to “Overweight” on Monday, February 12. The firm has “Buy” rating given on Tuesday, February 27 by Robert W. Baird.

The stock increased 0.53% or $0.23 during the last trading session, reaching $43.25. About 251,484 shares traded. Tallgrass Energy Partners, LP (NYSE:TEP) has declined 27.73% since May 18, 2017 and is downtrending. It has underperformed by 39.28% the S&P500.

Analysts await Tallgrass Energy Partners, LP (NYSE:TEP) to report earnings on August, 1. They expect $0.56 earnings per share, down 22.22 % or $0.16 from last year’s $0.72 per share. TEP’s profit will be $41.46M for 19.31 P/E if the $0.56 EPS becomes a reality. After $0.91 actual earnings per share reported by Tallgrass Energy Partners, LP for the previous quarter, Wall Street now forecasts -38.46 % negative EPS growth.

Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. The company has market cap of $3.20 billion. It operates in three divisions: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics, and Processing & Logistics. It has a 11.09 P/E ratio. The Crude Oil Transportation & Logistics segment engages in the ownership and operation of the Pony Express System, a crude oil pipeline serving the Bakken Shale, Denver-Julesburg, and Powder River Basins, as well as other nearby oil producing basins.

More notable recent Tallgrass Energy Partners, LP (NYSE:TEP) news were published by: Seekingalpha.com which released: “Energy Infrastructure Earnings Rise With Volumes” on May 07, 2018, also Seekingalpha.com with their article: “Tallgrass Energy Partners’ (TEP) CEO David Dehaemers on Q1 2018 Results – Earnings Call Transcript” published on May 04, 2018, Seekingalpha.com published: “MLP Monthly Report: April 2018” on April 29, 2018. More interesting news about Tallgrass Energy Partners, LP (NYSE:TEP) were released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” published on May 17, 2018 as well as Businesswire.com‘s news article titled: “Tallgrass Energy Reports Strong First Quarter 2018 Results” with publication date: May 03, 2018.

Tallgrass Energy Partners, LP (NYSE:TEP) Institutional Positions Chart

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