Tallgrass Energy Partners, LP (NYSE:TEP) had its price objective lowered by Morgan Stanley from $59.00 to $57.00 in a research note issued to investors on Friday morning. The brokerage currently has an equal weight rating on the pipeline company’s stock.

TEP has been the topic of a number of other research reports. Robert W. Baird restated a buy rating and set a $67.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, August 24th. ValuEngine upgraded shares of Tallgrass Energy Partners, from a hold rating to a buy rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Tallgrass Energy Partners, from a hold rating to a buy rating and set a $54.00 price target on the stock in a report on Thursday, October 5th. BidaskClub lowered shares of Tallgrass Energy Partners, from a hold rating to a sell rating in a report on Thursday, August 10th. Finally, Stifel Nicolaus restated a buy rating and set a $64.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $59.11.

Shares of Tallgrass Energy Partners, (NYSE TEP) opened at $43.50 on Friday. Tallgrass Energy Partners, has a one year low of $42.86 and a one year high of $55.50. The company has a market cap of $3,184.19, a P/E ratio of 11.76 and a beta of 1.01. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.35.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 8.69%. The ex-dividend date was Monday, October 30th. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.93. Tallgrass Energy Partners,’s dividend payout ratio is currently 98.93%.

In related news, insider David G. Dehaemers, Jr. acquired 715 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $44.00 per share, for a total transaction of $31,460.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David G. Dehaemers, Jr. acquired 1,688 shares of the company’s stock in a transaction on Friday, November 10th. The stock was bought at an average price of $44.99 per share, for a total transaction of $75,943.12. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 22,829 shares of company stock worth $1,031,420.

A number of institutional investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. increased its stake in Tallgrass Energy Partners, by 2.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 7,522,832 shares of the pipeline company’s stock valued at $360,268,000 after buying an additional 195,068 shares during the period. Neuberger Berman Group LLC acquired a new position in Tallgrass Energy Partners, in the 3rd quarter valued at approximately $797,000. Guardian Capital LP acquired a new position in Tallgrass Energy Partners, in the 3rd quarter valued at approximately $479,000. Oppenheimer Asset Management Inc. increased its stake in Tallgrass Energy Partners, by 9.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,536 shares of the pipeline company’s stock valued at $792,000 after buying an additional 1,462 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Tallgrass Energy Partners, by 5.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 26,176 shares of the pipeline company’s stock valued at $1,254,000 after buying an additional 1,470 shares during the period. Hedge funds and other institutional investors own 53.07% of the company’s stock.

About Tallgrass Energy Partners,

Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities.

Analyst Recommendations for Tallgrass Energy Partners, (NYSE:TEP)

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