Last $46.94 USD
Change Today -0.87 / -1.82%
Volume 236.1K
TEP On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

tallgrass energy partners lp (TEP) Snapshot

Open
$48.04
Previous Close
$47.81
Day High
$48.23
Day Low
$46.87
52 Week High
02/23/15 - $53.70
52 Week Low
03/5/14 - $30.20
Market Cap
2.8B
Average Volume 10 Days
955.7K
EPS TTM
$1.35
Shares Outstanding
59.0M
EX-Date
01/22/15
P/E TM
34.7x
Dividend
$1.94
Dividend Yield
3.40%
Current Stock Chart for TALLGRASS ENERGY PARTNERS LP (TEP)

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tallgrass energy partners lp (TEP) Details

Tallgrass Energy Partners, LP acquires, owns, develops, and operates various midstream energy assets in North America. The company operates through three segments: Natural Gas Transportation & Logistics; Crude Oil Transportation & Logistics; and Processing & Logistics. The Natural Gas Transportation & Logistics segment owns and operates interstate natural gas pipelines and integrated natural gas storage facilities with approximately 4,653 miles of transportation pipelines in Wyoming, Colorado, Kansas, Missouri, and Nebraska. This segment provides services primarily to third-party local distribution companies, industrial users, and other shippers. The Crude Oil Transportation & Logistics segment offers crude oil transportation services to customers in the Bakken Shale and other nearby oil producing basins. The Processing & Logistics segment owns and operates natural gas processing, treating, and fractionation facilities that produce natural gas liquids and residue gas for sale in local wholesale markets or delivers into pipelines for transportation to additional end markets, as well as provides water business services primarily to the oil and gas exploration and production industry. This segment serves retail propane dealers and oil refiners. Tallgrass Energy Partners, LP was founded in 2013 and is based in Leawood, Kansas.

Founded in 2013

tallgrass energy partners lp (TEP) Top Compensated Officers

Chief Executive Officer of Tallgrass MLP GP L...
Total Annual Compensation: $551.0K
Chief Financial Officer of Tallgrass MLP GP L...
Total Annual Compensation: $776.0K
Chief Operating Officer of Tallgrass MLP GP L...
Total Annual Compensation: $801.0K
Executive Vice President of Tallgrass MLP GP ...
Total Annual Compensation: $776.0K
Compensation as of Fiscal Year 2014.

tallgrass energy partners lp (TEP) Key Developments

Morgan Stanley Reportedly Seeks Bids for Southern Star Pipeline

Morgan Stanley Infrastructure Inc. is reported to be procuring buyer for Southern Star Central Corp. According to people familiar with the matter, Morgan Stanley Infrastructure has recently sent offering documents to a number of potential buyers which includes Tallgrass Energy Partners, LP (NYSE:TEP), TransCanada Corp. (TSX:TRP), The Williams Companies, Inc., Spectra Energy Corp. (NYSE:SE), Boardwalk Pipeline Partners, LP (NYSE:BWP), Caisse de dépôt et placement du Québec and Macquarie Group Limited (ASX:MQG). Tudor, Pickering, Holt & Co., LLC is reported to be the investment bank working with Morgan Stanley Infrastructure in the sale of Southern Star Central Corp. Representatives for Morgan Stanley, Caisse de Depot, and Boardwalk declined to comment while Tudor Pickering, TransCanada, Tallgrass, Spectra, and Williams didn’t respond to calls.

Tallgrass Energy To Acquire Stake In Tallgrass Pony Express

Tallgrass Energy Partners, LP (NYSE:TEP) is seeking to acquire an additional 33.3% interest in Tallgrass Pony Express Pipeline, LLC from Tallgrass Development, LP by using the net proceeds from the follow-on public offering of 10 million common units at $50.82 per common unit. The acquisition would increase TEP's stake to 66.7%. No definitive transaction agreement has been executed and the transaction remains subject to final review, negotiations and approval by the conflicts committee and the Board of Directors of TEP's general partner.

Tallgrass Energy Mulls Acquisitions

Tallgrass Energy Partners, LP (NYSE:TEP) intends to pursue acquisitions. The company has filed a Follow-on Equity Offering. The company plans to use the proceeds for general partnership purposes, which may include paying or refinancing all or a portion of our indebtedness outstanding at the time and funding working capital, capital expenditures or acquisitions.

 

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Industry Analysis

TEP

Industry Average

Valuation TEP Industry Range
Price/Earnings 35.1x
Price/Sales 6.3x
Price/Book 2.2x
Price/Cash Flow 25.9x
TEV/Sales 4.3x
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