Tallgrass Energy Partners (NYSE:TEP) Receives Downgrade From RBC Capital Mkts. Will Other Analysts Follow Suit?

May 17, 2018 - By Mona Holcomb

Investors sentiment decreased to 1.11 in 2017 Q4. 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.

Commonwealth Of Pennsylvania Public School Empls Retrmt Systems has 1.11M shares for 0.7% of their portfolio. Jpmorgan Chase Co stated it has 0.01% in Tallgrass Energy Partners, LP (NYSE:TEP). Citigroup stated it has 38,545 shares or 0% of all its holdings. Northwestern Mutual Wealth has invested 0% in Tallgrass Energy Partners, LP (NYSE:TEP). Guardian Cap Limited Partnership holds 12,000 shares or 0.01% of its portfolio. Fifth Third Bancshares holds 844 shares. Advantus Cap Inc has 0.04% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 31,700 shares. Pnc Finance Service Grp Inc invested 0% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP). First Manhattan accumulated 3,726 shares. Williams Jones Assocs Limited Liability Corp invested in 0.03% or 31,308 shares. Naples Glob Advsr Ltd Liability Corp invested in 4,950 shares. 5,750 were reported by State Street Corporation. Tortoise Advisors Ltd Com invested in 7.54M shares. Cypress Cap Mngmt Ltd Liability Company (Wy) reported 300 shares. Citadel Advsrs Ltd Liability Com accumulated 35,714 shares.

Tallgrass Energy Partners (NYSE:TEP) Receives a Downgrade

RBC Capital Mkts has given Tallgrass Energy Partners (NYSE:TEP) shares a new Sector Perform rating in a note made public on Thursday, 17 May. This was a cut from the last Outperform rating.

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 10.85% above currents $42.85 stock price. Tallgrass Energy had 20 analyst reports since December 4, 2017 according to SRatingsIntel. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) has “Buy” rating given on Tuesday, January 16 by RBC Capital Markets. As per Tuesday, March 27, the company rating was maintained by Citigroup. The company was maintained on Friday, February 9 by Morgan Stanley. As per Thursday, February 8, the company rating was maintained by Robert W. Baird. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Stifel Nicolaus on Tuesday, January 2. As per Thursday, January 4, the company rating was downgraded by U.S. Capital Advisors. The rating was maintained by Stifel Nicolaus on Thursday, February 8 with “Buy”. The stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, March 28. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Overweight” rating by Barclays Capital on Monday, February 12. 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 decreased 0.40% or $0.17 during the last trading session, reaching $42.85. About 186,760 shares traded. Tallgrass Energy Partners, LP (NYSE:TEP) has declined 27.73% since May 17, 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 EPS, down 22.22 % or $0.16 from last year’s $0.72 per share. TEP’s profit will be $41.45 million for 19.13 P/E if the $0.56 EPS becomes a reality. After $0.91 actual EPS 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 $3.17 billion. It operates in three divisions: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics, and Processing & Logistics. It has a 10.99 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: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” on May 17, 2018, also Seekingalpha.com with their article: “Energy Infrastructure Earnings Rise With Volumes” published on May 07, 2018, Businesswire.com published: “Tallgrass Energy Reports Strong First Quarter 2018 Results” on May 03, 2018. More interesting news about Tallgrass Energy Partners, LP (NYSE:TEP) were released by: Seekingalpha.com and their article: “Tallgrass Energy Partners’ (TEP) CEO David Dehaemers on Q1 2018 Results – Earnings Call Transcript” published on May 04, 2018 as well as Seekingalpha.com‘s news article titled: “MLP Monthly Report: April 2018” with publication date: April 29, 2018.

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

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