Short Interest Buzzer: Will Tallgrass Energy Partners LP (NYSE:TEP) Run Out of Steam Soon? Short Interest Is Down

November 17, 2016 - By Marguerite Chambers   ·   0 Comments

Short Interest Buzzer: Will Tallgrass Energy Partners LP (NYSE:TEP) Run Out of Steam Soon? Short Interest Is Down

The stock of Tallgrass Energy Partners LP (NYSE:TEP) registered a decrease of 4.43% in short interest. TEP’s total short interest was 3.19M shares in November as published by FINRA. Its down 4.43% from 3.34 million shares, reported previously. With 209,600 shares average volume, it will take short sellers 15 days to cover their TEP’s short positions. The short interest to Tallgrass Energy Partners LP’s float is 7.55%. About 72,180 shares traded hands. Tallgrass Energy Partners LP (NYSE:TEP) has risen 22.13% since April 15, 2016 and is uptrending. It has outperformed by 17.50% the S&P500.

Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The company has a market cap of $3.58 billion. The Firm operates through three divisions: Crude Oil Transportation & Logistics, which includes the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics, which includes the ownership and operation of Federal Energy Regulatory Commission-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics, which includes the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the gas and oil exploration and production industry and the transportation of natural gas liquid . It has a 18.97 P/E ratio.

Insitutional Activity: The institutional sentiment decreased to 1.12 in Q2 2016. Its down 0.70, from 1.82 in 2016Q1. The ratio turned negative, as 19 funds sold all Tallgrass Energy Partners LP shares owned while 30 reduced positions. 23 funds bought stakes while 32 increased positions. They now own 38.72 million shares or 17.73% more from 32.89 million shares in 2016Q1.
Parkside National Bank & Trust reported 18,365 shares or 0.41% of all its holdings. Moreover, Tocqueville Asset Mngmt L P has 0.01% invested in Tallgrass Energy Partners LP (NYSE:TEP) for 10,955 shares. Rafferty Asset Mngmt Lc has 0.17% invested in the company for 54,309 shares. Boston Advisors Ltd Liability Corporation holds 0.11% of its portfolio in Tallgrass Energy Partners LP (NYSE:TEP) for 97,110 shares. Salient Tru Lta owns 16,632 shares or 0.08% of their US portfolio. Tortoise Advisors Limited Liability accumulated 1.82% or 5.65M shares. Cbre Clarion Secs Ltd Liability holds 0.06% or 175,383 shares in its portfolio. Energ Income Prtnrs Limited Liability Company has 1.5% invested in the company for 1.47M shares. Us Bancshares De holds 0% or 5,678 shares in its portfolio. Cohen & Steers holds 0.01% or 94,207 shares in its portfolio. Quantbot Tech Lp, a New York-based fund reported 1,178 shares. Advantus Mgmt Incorporated last reported 35,300 shares in the company. Barclays Public Ltd holds 34,742 shares or 0% of its portfolio. Estabrook Cap Management holds 49 shares or 0% of its portfolio. Corp has 482 shares for 0.01% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 1 insider buy, and 0 sales for $325,875 net activity. The insider DEHAEMERS DAVID G JR bought $325,875.

Tallgrass Energy Partners LP (NYSE:TEP) Ratings Coverage

Out of 7 analysts covering Tallgrass Energy Partners LP (NYSE:TEP), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Tallgrass Energy Partners LP has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, February 18 report. The rating was maintained by Stifel Nicolaus on Tuesday, January 5 with “Buy”. The company was downgraded on Wednesday, August 12 by Zacks. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, April 29. Barclays Capital downgraded the stock to “Equal Weight” rating in Monday, January 11 report. The rating was maintained by Barclays Capital on Thursday, February 18 with “Equal-Weight”. The stock of Tallgrass Energy Partners LP (NYSE:TEP) has “Buy” rating given on Monday, April 18 by Deutsche Bank. Credit Suisse maintained Tallgrass Energy Partners LP (NYSE:TEP) on Thursday, May 19 with “Outperform” rating. As per Thursday, January 28, the company rating was downgraded by Stifel Nicolaus. As per Monday, May 2, the company rating was maintained by Barclays Capital.

TEP Company Profile

Tallgrass Energy Partners, LP, incorporated on February 6, 2013, owns, operates, acquires and develops midstream energy assets in North America. The Firm operates through three divisions: Crude Oil Transportation & Logistics, which includes the ownership and operation of a crude oil pipeline system; 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, and Processing & Logistics, which includes the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the gas and oil exploration and production industry and the transportation of natural gas liquid (NGLs).

More important recent Tallgrass Energy Partners LP (NYSE:TEP) news were published by: Businesswire.com which released: “Tallgrass Energy Partners Acquires Additional Interest in Pony Express Pipeline” on January 04, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: EnLink Midstream Partners, Magellan Midstream and …”, Businesswire.com published: “Tallgrass Energy Partners Closes on the Acquisition of a 25 Percent Interest …” on May 09, 2016. More interesting news about Tallgrass Energy Partners LP (NYSE:TEP) was released by: Businesswire.com and their article: “Tallgrass Energy Partners Announces Launch of $400 Million Offering of Senior …” with publication date: August 16, 2016.

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By Marguerite Chambers


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