Tallgrass Energy Partners (NYSE:TEP) Has Been Downgraded Today by RBC Capital Mkts to a Sector Perform

May 17, 2018 - By Donald McKee

Investors sentiment decreased to 1.11 in 2017 Q4. Its down 0.10, from 1.21 in 2017Q3. It worsened, 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.

36,333 were accumulated by Fincl Bank Of Montreal Can. Whalerock Point Prtn Ltd Liability Corporation has invested 0.07% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP). Glenmede Na holds 0.01% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP) for 47,509 shares. Tortoise Cap Advisors accumulated 7.54 million shares. Guggenheim Capital Limited Liability stated it has 0.01% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP). First Manhattan owns 0% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 3,726 shares. Oppenheimer Asset Inc invested in 16,536 shares. 615 are owned by Enterprise Financial Corporation. Advsrs Asset Management holds 6,269 shares. The Wyoming-based Cypress Mngmt Ltd Liability Co (Wy) has invested 0.02% in Tallgrass Energy Partners, LP (NYSE:TEP). Commonwealth Of Pennsylvania Public School Empls Retrmt Systems holds 0.7% of its portfolio in Tallgrass Energy Partners, LP (NYSE:TEP) for 1.11M shares. Groesbeck Management Nj owns 20,075 shares for 0.65% of their portfolio. Citadel Advsrs Ltd Liability Com holds 35,714 shares or 0% of its portfolio. Bb&T Corporation owns 5,100 shares. Bb&T Limited Company has 0.02% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 25,650 shares.

Tallgrass Energy Partners (NYSE:TEP) Receives a Downgrade

RBC Capital Mkts has downgraded the rating for shares of Tallgrass Energy Partners (NYSE:TEP) to a solid Sector Perform in a research report shared with investors on Thursday, 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 10.85% above currents $42.85 stock price. Tallgrass Energy had 20 analyst reports since December 4, 2017 according to SRatingsIntel. Robert W. Baird maintained Tallgrass Energy Partners, LP (NYSE:TEP) on Thursday, April 5 with “Buy” rating. On Wednesday, March 28 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. The stock has “Buy” rating by Robert W. Baird on Tuesday, February 27. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) has “Buy” rating given on Tuesday, January 16 by RBC Capital Markets. The firm earned “Hold” rating on Wednesday, March 28 by Stifel Nicolaus. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Stifel Nicolaus on Thursday, February 8. Scotia Capital maintained Tallgrass Energy Partners, LP (NYSE:TEP) on Monday, January 29 with “Buy” rating. The company was maintained on Tuesday, March 27 by Citigroup. The stock has “Buy” rating by Stifel Nicolaus on Wednesday, February 14. As per Wednesday, February 14, the company rating was maintained by RBC Capital Markets.

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 earnings per share, down 22.22 % or $0.16 from last year’s $0.72 per share. TEP’s profit will be $41.45M for 19.13 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 $3.17 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: Businesswire.com which released: “Tallgrass Energy Reports Strong First Quarter 2018 Results” on May 03, 2018, also Seekingalpha.com with their article: “MLP Monthly Report: April 2018” published on April 29, 2018, Seekingalpha.com published: “Energy Infrastructure Earnings Rise With Volumes” on May 07, 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 Seekingalpha.com‘s news article titled: “Tallgrass Energy Partners’ (TEP) CEO David Dehaemers on Q1 2018 Results – Earnings Call Transcript” with publication date: May 04, 2018.

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

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