Revenue Update on Tallgrass Energy Partners LP(NYSE:TEP)

Tallgrass Energy Partners LP(NYSE:TEP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $146.93M. Analysts estimated a revenue of $147.34M. Earnings per share were $0.92. Analysts had estimated an EPS of $0.57.

In a different note, On Jul 28, 2016, Barclays said it Maintains its rating on Tallgrass Energy Partners LP. In the research note, the firm Raises the price-target to $49.00 per share. The shares have been rated ‘Equalweight’ by the firm. On May 19, 2016, Credit Suisse said it Maintains its rating on Tallgrass Energy Partners LP. In the research note, the firm Raises the price-target to $54.00 per share. The shares have been rated ‘Outperform’ by the firm.

Tallgrass Energy Partners LP (TEP) made into the market gainers list on Fridays trading session with the shares advancing 2.68% or 1.27 points. Due to strong positive momentum, the stock ended at $48.66, which is also near the day’s high of $48.92. The stock began the session at $47.41 and the volume stood at 2,03,942 shares. The 52-week high of the shares is $50.78 and the 52 week low is $25.82. The company has a current market capitalization of $3,509 M and it has 7,21,08,934 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 27, 2016, David G Jr Dehaemers (CEO) purchased 7,500 shares at $43.45 per share price.Also, On Jan 5, 2016, Equity, Llc Tallgrass (10% owner) purchased 2.0E7 shares at $47.68 per share price.On Jan 5, 2016, Energy Holdings, Llc Tallgrass (10% owner) sold 2.0E7 shares at $47.68 per share price, according to the Form-4 filing with the securities and exchange commission.

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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