What’s in Tallgrass Energy Partners Lpunits Represe (NYSE:TEP) After Decline in Shorted Shares?

July 14, 2018 - By Yee Bell

Investors sentiment decreased to 0.77 in 2018 Q1. Its down 0.34, from 1.11 in 2017Q4. It turned negative, as 26 investors sold Tallgrass Energy Partners, LP shares while 39 reduced holdings. 17 funds opened positions while 33 raised stakes. 40.42 million shares or 5.47% less from 42.76 million shares in 2017Q4 were reported.
Argyll Research Lc holds 25,078 shares. Captrust Financial Advsrs owns 2,910 shares. Glenmede Na owns 47,509 shares for 0.01% of their portfolio. Northwestern Mutual Wealth Mngmt Co holds 2,313 shares or 0% of its portfolio. Barclays Public Limited Com accumulated 34,042 shares. Bancshares Of New York Mellon Corp has 0% invested in Tallgrass Energy Partners, LP (NYSE:TEP) for 14,316 shares. Blair William And Company Il accumulated 31,622 shares. First Trust Advsr Limited Partnership owns 179,371 shares. Hightower Ltd Liability Com has 8,630 shares for 0% of their portfolio. Tower Research Cap Limited Company (Trc) has 200 shares. 13,941 were accumulated by Salient Lta. 342 are owned by Oakworth Cap. Envestnet Asset Mgmt has 0% invested in Tallgrass Energy Partners, LP (NYSE:TEP). Susquehanna Intll Group Inc Limited Liability Partnership holds 0% or 9,485 shares. Enterprise Fincl Ser stated it has 700 shares.

Since June 28, 2018, it had 1 buy, and 0 insider sales for $1.14 million activity.

The stock of Tallgrass Energy Partners Lpunits Represe (NYSE:TEP) registered a decrease of 6.05% in short interest. TEP’s total short interest was 3.66M shares in July as published by FINRA. Its down 6.05% from 3.90 million shares, reported previously. With 281,000 shares average volume, it will take short sellers 13 days to cover their TEP’s short positions. The short interest to Tallgrass Energy Partners Lpunits Represe’s float is 7.84%.

The stock decreased 3.73% or $1.68 during the last trading session, reaching $43.31. About 1.39 million shares traded or 290.72% up from the average. Tallgrass Energy Partners, LP (NYSE:TEP) has declined 16.37% since July 14, 2017 and is downtrending. It has underperformed by 28.94% the S&P500.

Tallgrass Energy Partners, LP acquires, owns, develops, and operates midstream energy assets in North America. The company has market cap of $3.21 billion. It operates in three divisions: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics, and Processing & Logistics. It has a 10.17 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.

Tallgrass Energy Partners, LP (NYSE:TEP) Ratings Coverage

Among 7 analysts covering Tallgrass Energy (NYSE:TEP), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Tallgrass Energy has $58.0 highest and $41 lowest target. $49.29’s average target is 13.81% above currents $43.31 stock price. Tallgrass Energy had 17 analyst reports since January 16, 2018 according to SRatingsIntel. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by RBC Capital Markets on Tuesday, January 16. The firm has “Buy” rating by Citigroup given on Monday, June 25. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Robert W. Baird on Thursday, April 5. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Robert W. Baird on Tuesday, February 27. The stock of Tallgrass Energy Partners, LP (NYSE:TEP) earned “Buy” rating by Stifel Nicolaus on Wednesday, February 14. The stock has “Hold” rating by Stifel Nicolaus on Wednesday, March 28. The stock has “Buy” rating by Scotia Capital on Monday, January 29. Citigroup maintained the stock with “Buy” rating in Tuesday, March 27 report. Morgan Stanley maintained the shares of TEP in report on Friday, February 9 with “Equal-Weight” rating. The stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, March 28.

More recent Tallgrass Energy Partners, LP (NYSE:TEP) news were published by: Prnewswire.com which released: “Swank Capital and Cushing® Asset Management Announce a Constituent Change to The Cushing® 30 MLP Index” on June 19, 2018. Also Prnewswire.com published the news titled: “Swank Capital and Cushing® Asset Management Announce a Constituent Change to The Cushing® Transportation …” on June 19, 2018. Businesswire.com‘s news article titled: “Tallgrass Energy Partners Unitholders Overwhelmingly Approve Merger with Tallgrass Energy GP; Closing Expected …” with publication date: June 26, 2018 was also an interesting one.

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

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