Report
Stephen Ellis
EUR 101.80 For Business Accounts Only

Tallgrass is focused on expanding its presence around attractive Rockies assets.

We do not plan on making material changes to our $51 fair value estimate or narrow moat rating for Tallgrass Energy Partners after a good fourth-quarter report. EBITDA increased to $173 million from $122 million last year due to completed drop-downs, though it declined substantially from the third quarter’s $239 million, as we expected, because of the nonrecurrence of the $150 million Ultra settlement with REX. Management has guided to 2018 EBITDA of $755 million-$835 million, which is slightly ...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Stephen Ellis

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