Analysts at RBC Capital Give Tallgrass Energy (NYSE:TEP) a Downgrade

May 18, 2018 - By Christine McCrea

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.

Clearbridge Investments Ltd Company has invested 0.06% in Tallgrass Energy Partners, LP (NYSE:TEP). Whalerock Point Limited Liability Corp has 0.07% invested in Tallgrass Energy Partners, LP (NYSE:TEP). Miller Howard Investments New York holds 0.69% or 696,252 shares in its portfolio. Wells Fargo And Mn accumulated 105,817 shares. Engy Income Ltd Liability Co holds 351,160 shares or 0.28% of its portfolio. The Ontario – Canada-based Fincl Bank Of Montreal Can has invested 0% in Tallgrass Energy Partners, LP (NYSE:TEP). Duff Phelps Investment Mgmt Co holds 0.63% in Tallgrass Energy Partners, LP (NYSE:TEP) or 963,298 shares. First Manhattan holds 3,726 shares or 0% of its portfolio. Boyer & Corporon Wealth Management Limited Liability Corporation has invested 0.76% in Tallgrass Energy Partners, LP (NYSE:TEP). Enterprise Svcs reported 0.01% stake. Naples Advsrs Limited Liability owns 0.07% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 4,950 shares. Sg Americas Securities Ltd Limited Liability Company reported 0.02% stake. Salient Capital Advsr Lc has 3.70M shares. Alps Inc stated it has 3.91M shares or 1.24% of all its holdings. Cushing Asset Mngmt Ltd Partnership, a Texas-based fund reported 550,000 shares.

Tallgrass Energy (NYSE:TEP) Receives a Downgrade

Tallgrass Energy (NYSE:TEP) shares have been downgraded to a Hold rating by equity research analysts at RBC Capital. TEP’s past rating is now invalid according to the RBC Capital analysts.

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. The rating was maintained by Robert W. Baird on Thursday, February 8 with “Buy”. The stock has “Buy” rating by Robert W. Baird on Monday, December 4. Robert W. Baird maintained the shares of TEP in report on Thursday, April 5 with “Buy” rating. The company was maintained on Wednesday, March 28 by Morgan Stanley. The rating was upgraded by Citigroup on Tuesday, January 9 to “Buy”. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Robert W. Baird on Thursday, February 15. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by RBC Capital Markets on Wednesday, February 14. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, February 14. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, February 8. As per Tuesday, January 2, the company rating was maintained by Stifel Nicolaus.

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 Businesswire.com with their article: “Tallgrass Energy Reports Strong First Quarter 2018 Results” published on May 03, 2018, Seekingalpha.com published: “Tallgrass Energy Partners’ (TEP) CEO David Dehaemers on Q1 2018 Results – Earnings Call Transcript” on May 04, 2018. More interesting news about Tallgrass Energy Partners, LP (NYSE:TEP) were released by: Seekingalpha.com and their article: “Verizon Could Go To $50-51 – Cramer’s Lightning Round (5/10/18)” published on May 11, 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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