GSA Capital Partners LLP purchased a new stake in Tallgrass Energy Partners LP (NYSE:TEP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,542 shares of the pipeline company’s stock, valued at approximately $673,000.
A number of other hedge funds also recently bought and sold shares of TEP. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Tallgrass Energy Partners by 59.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,020 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 1,500 shares during the period. BNP Paribas Arbitrage SA bought a new position in shares of Tallgrass Energy Partners during the 1st quarter worth approximately $154,000. Baldwin Brothers Inc. MA bought a new position in shares of Tallgrass Energy Partners during the 2nd quarter worth approximately $197,000. Commonwealth Equity Services LLC boosted its stake in shares of Tallgrass Energy Partners by 33.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,446 shares of the pipeline company’s stock worth $282,000 after acquiring an additional 1,876 shares during the period. Finally, Lee Financial Co bought a new position in shares of Tallgrass Energy Partners during the 1st quarter worth approximately $293,000. Hedge funds and other institutional investors own 57.01% of the company’s stock.
NYSE TEP remained flat at $$43.31 during midday trading on Friday. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 1.46. Tallgrass Energy Partners LP has a fifty-two week low of $34.37 and a fifty-two week high of $52.84. The firm has a market capitalization of $3.17 billion, a P/E ratio of 11.49 and a beta of 1.01.
TEP has been the subject of several recent research reports. Citigroup boosted their price target on Tallgrass Energy Partners from $41.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Barclays set a $26.00 price target on Tallgrass Energy Partners and gave the company a “hold” rating in a research note on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Tallgrass Energy Partners has an average rating of “Hold” and an average price target of $44.29.
Tallgrass Energy Partners Company Profile
Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. It operates through Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling segments. The Natural Gas Transportation segment engages in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,641 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska.
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