What’s Propelling Tallgrass Energy Partners Lpunits Represe (NYSE:TEP) After Lower Shorts Reported?

July 14, 2018 - By Ann Prendergast

Investors sentiment decreased to 0.77 in Q1 2018. Its down 0.34, from 1.11 in 2017Q4. It turned negative, as 26 investors sold Tallgrass Energy Partners, LP shares while 39 reduced holdings. 17 funds opened positions while 33 raised stakes. 40.42 million shares or 5.47% less from 42.76 million shares in 2017Q4 were reported.
Jane Street Limited Liability Corp holds 9,627 shares. Global X Mngmt Llc has invested 0.02% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP). Stifel Fincl Corporation has invested 0% in Tallgrass Energy Partners, LP (NYSE:TEP). Royal National Bank Of Canada owns 24,489 shares. Groesbeck Management Nj has 54,174 shares for 1.49% of their portfolio. Argyll Research Ltd Liability accumulated 25,078 shares. National Bank Of America De stated it has 0.01% in Tallgrass Energy Partners, LP (NYSE:TEP). The Pennsylvania-based Commonwealth Of Pennsylvania Public School Empls Retrmt has invested 0.62% in Tallgrass Energy Partners, LP (NYSE:TEP). Hightower Advisors Ltd Liability holds 0% in Tallgrass Energy Partners, LP (NYSE:TEP) or 8,630 shares. Glenmede Co Na holds 0.01% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP) for 47,509 shares. Green Square Capital Limited holds 0.4% or 67,198 shares. Us Retail Bank De stated it has 10,313 shares. Stephens Inc Ar holds 0.01% or 7,955 shares. Raymond James accumulated 73,395 shares. Comml Bank Of New York Mellon Corp owns 14,316 shares or 0% of their US portfolio.

Since June 28, 2018, it had 1 insider purchase, and 0 sales for $1.14 million activity.

The stock of Tallgrass Energy Partners Lpunits Represe (NYSE:TEP) registered a decrease of 6.05% in short interest. TEP’s total short interest was 3.66M shares in July as published by FINRA. Its down 6.05% from 3.90M shares, reported previously. With 281,000 shares average volume, it will take short sellers 13 days to cover their TEP’s short positions. The short interest to Tallgrass Energy Partners Lpunits Represe’s float is 7.84%.

The stock decreased 3.73% or $1.68 during the last trading session, reaching $43.31. About 1.39M shares traded or 290.72% up from the average. Tallgrass Energy Partners, LP (NYSE:TEP) has declined 16.37% since July 14, 2017 and is downtrending. It has underperformed by 28.94% the S&P500.

Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. The company has market cap of $3.21 billion. It operates in three divisions: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics, and Processing & Logistics. It has a 10.17 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.

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

Among 7 analysts covering Tallgrass Energy (NYSE:TEP), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Tallgrass Energy has $58.0 highest and $41 lowest target. $49.29’s average target is 13.81% above currents $43.31 stock price. Tallgrass Energy had 17 analyst reports since January 16, 2018 according to SRatingsIntel. Citigroup maintained the stock with “Buy” rating in Tuesday, March 27 report. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Stifel Nicolaus on Wednesday, February 14. Stifel Nicolaus downgraded the shares of TEP in report on Wednesday, March 28 to “Hold” rating. RBC Capital Markets maintained Tallgrass Energy Partners, LP (NYSE:TEP) on Wednesday, February 14 with “Buy” rating. Barclays Capital upgraded the stock to “Overweight” rating in Monday, February 12 report. Robert W. Baird maintained the stock with “Buy” rating in Thursday, February 15 report. The rating was maintained by Morgan Stanley on Wednesday, March 28 with “Equal-Weight”. Robert W. Baird maintained the stock with “Buy” rating in Thursday, April 5 report. As per Wednesday, February 14, the company rating was maintained by Scotia Capital. Robert W. Baird maintained Tallgrass Energy Partners, LP (NYSE:TEP) on Tuesday, February 27 with “Buy” rating.

More recent Tallgrass Energy Partners, LP (NYSE:TEP) news were published by: Businesswire.com which released: “Tallgrass Energy Partners Unitholders Overwhelmingly Approve Merger with Tallgrass Energy GP; Closing Expected …” on June 26, 2018. Also Prnewswire.com published the news titled: “Swank Capital and Cushing® Asset Management Announce a Constituent Change to The Cushing® Transportation …” on June 19, 2018. Prnewswire.com‘s news article titled: “Swank Capital and Cushing® Asset Management Announce a Constituent Change to The Cushing® 30 MLP Index” with publication date: June 19, 2018 was also an interesting one.

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

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