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Last $48.02 USD
Change Today -1.30 / -2.64%
Volume 170.0K
TEP On Other Exchanges
Symbol
Exchange
Berlin
As of 4:15 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

tallgrass energy partners lp (TEP) Snapshot

Open
$49.55
Previous Close
$49.32
Day High
$49.78
Day Low
$47.99
52 Week High
02/23/15 - $53.70
52 Week Low
10/14/14 - $33.83
Market Cap
2.9B
Average Volume 10 Days
110.4K
EPS TTM
$1.35
Shares Outstanding
60.2M
EX-Date
04/22/15
P/E TM
35.5x
Dividend
$2.08
Dividend Yield
3.74%
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

Tallgrass Energy Partners Announces Increased Quarterly Distribution for the First Quarter of 2015, Payable on May 14, 2015

Tallgrass Energy Partners, LP announced that the board of directors of its general partner declared a quarterly cash distribution to partners of $0.52 per common unit for the first quarter of 2015, or $2.08 on an annualized basis. This represents a 60% increase from the first quarter of 2014 and a 7.2% sequential increase from the fourth quarter 2014 distribution of $0.485. The quarterly distribution will be paid on May 14, 2015, to unitholders of record as of the close of business on April 24, 2015.

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 Partners, Lp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year Ending December 31, 2015

Tallgrass Energy Partners, LP reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced total revenues of $109,504,000 compared to $86,773,000 for the same period of last year. Operating income was $18,829,000 compared to $13,089,000 for the same period of last year. Net income was $16,731,000 compared to $12,804,000 for the same period of last year. Adjusted EBITDA was $39,988,000 against $22,762,000 for the same period of last year. Diluted net income per common share was $0.45 compared to $0.33 a year ago. For the year, the company announced total revenues of $371,556,000 compared to $290,526,000 for the same period of last year. Operating income was $53,413,000 compared to $33,999,000 for the same period of last year. Net income was $59,329,000 compared to $7,624,000 for the same period of last year. Adjusted EBITDA was $109,878,000 against $74,579,000 for the same period of last year. Diluted net income per common share was $1.36 compared to $0.17 a year ago. Net cash provided by operating activities was $79,444,000 compared to $82,482,000 for the same period of last year. Capital expenditures were $665,650,000 compared to $346,020,000 for the same period of last year. Adjusted EBITDA was $109,878,000 against $74,579,000 for the same period of last year. For the year ending December 31, 2015, the company expects adjusted EBITDA of $205 million to 225 million and distributable cash flow of $180 to $195 million.

 

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Industry Analysis

TEP

Industry Average

Valuation TEP Industry Range
Price/Earnings 36.2x
Price/Sales 6.5x
Price/Book 2.3x
Price/Cash Flow 27.3x
TEV/Sales 4.7x
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