Energy Income Partners buys $131,400,248 stake in Tallgrass Energy Partners LP (TEP)

Tallgrass Energy Partners LP (TEP) : Energy Income Partners scooped up 720,762 additional shares in Tallgrass Energy Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,700,375 shares of Tallgrass Energy Partners LP which is valued at $131,400,248.Tallgrass Energy Partners LP makes up approximately 2.98% of Energy Income Partners’s portfolio.

Other Hedge Funds, Including , Invictus Rg added TEP to its portfolio by purchasing 259 company shares during the most recent quarter which is valued at $12,603. Tallgrass Energy Partners LP makes up approx 0.01% of Invictus Rg’s portfolio.Raymond James Financial Services Advisors boosted its stake in TEP in the latest quarter, The investment management firm added 16,085 additional shares and now holds a total of 39,050 shares of Tallgrass Energy Partners LP which is valued at $1,900,173. Tallgrass Energy Partners LP makes up approx 0.02% of Raymond James Financial Services Advisors’s portfolio.Cbre Clarion Securities reduced its stake in TEP by selling 22,550 shares or 11.39% in the most recent quarter. The Hedge Fund company now holds 175,383 shares of TEP which is valued at $8,534,137. Tallgrass Energy Partners LP makes up approx 0.07% of Cbre Clarion Securities’s portfolio.Wfg Advisors Lp boosted its stake in TEP in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 109 shares of Tallgrass Energy Partners LP which is valued at $5,304.Country Club Trust Company N.a. reduced its stake in TEP by selling 2,288 shares or 22.04% in the most recent quarter. The Hedge Fund company now holds 8,092 shares of TEP which is valued at $372,556. Tallgrass Energy Partners LP makes up approx 0.05% of Country Club Trust Company N.a.’s portfolio.

Tallgrass Energy Partners LP opened for trading at $45.92 and hit $46.31 on the upside on Thursday, eventually ending the session at $46.24, with a gain of 0.35% or 0.16 points. The heightened volatility saw the trading volume jump to 1,48,477 shares. Company has a market cap of $3,334 M.

On the company’s financial health, Tallgrass Energy Partners LP reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.60. The company had revenue of $146.90 million for the quarter, compared to analysts expectations of $151.68 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Tallgrass Energy Partners LP owns operates acquires and develops midstream energy assets in North America. The Company provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through Tallgrass Interstate Gas Transmission system and the Trailblazer Pipeline. The Company’s business segments include Natural Gas Transportation & Logistics which includes the ownership and operation of Federal Energy Regulatory Commission(FERC)-regulated interstate natural gas pipelines and integrated natural gas storage facilities; Crude Oil Transportation & Logistics which includes the ownership and operation of a crude oil pipeline system and Processing & Logistics which includes the ownership and operation of natural gas processing treating and fractionation facilities as well as water business services provided to the oil and gas exploration and production industry.

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