reports
- Stephen Ellis
Tallgrass Energy Partners Reports Decent 1Q; Unitholder Vote Scheduled...
Tallgrass Energy Partners reported a decent first quarter, and we do not plan to change our $51 fair value estimate or narrow moat rating. The results mainly reflect flattish results at the bulk of Tallgrass’ operations, notably Pony Express, with the improvements over last year mainly driven by the acquisition of a 24.99% stake in REX in early 2017. Tallgrass has put substantial effort and acquisitions into improving Pony Express this year, with a recent $150 million joint venture with Silver...
Tallgrass Energy Reports Strong First Quarter 2018 Results
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) ("TEP") and Tallgrass Energy GP, LP (NYSE: TEGP) ("TEGP") today reported financial and operating results for the first quarter of 2018. “Tallgrass Energy once again delivered the strong quarterly financial results that our unitholders and shareholders have come to expect,” said President and CEO David Dehaemers Jr. “These results were driven by consistent performance in our Natural Gas and Crude Oil transportation segments and continued growth in our G...
Tallgrass Energy Honored by Colorado’s Top Workplaces for Fourth Con...
LAKEWOOD, Colo.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) announced today that Tallgrass was named one of The Denver Post’s Top Workplaces – the fourth consecutive year the company has been named to Top Workplaces. The list is compiled based on a third-party survey that measures aspects of workplace culture, including alignment, execution and employee connection. “What makes this recognition particularly meaningful is that it’s awarded solely based on feedback from o...
Tallgrass Energy Announces Date for First Quarter 2018 Financial Resul...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) (“Tallgrass”) today announced plans to report first quarter 2018 financial results on Thursday, May 3, 2018, and hold a conference call at 3:30 p.m. Central Time that same day. Tallgrass invites unitholders, shareholders and other interested parties to listen to the call through a link posted on the Investor Relations section of Tallgrass’s website at www.tallgrassenergy.com. About Tallgrass Energy ...
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Inve...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Tallgrass Energy Partners, LP (“TEP” or the “Company”) (NYSE:TEP) stock prior to March 26, 2018. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of TEP to Tallgrass Energy GP, LP (“TEGP”). Under the terms of the transaction, TEP shareholders will receive two TEGP Class A shares for each TEP share they own. To lear...
UNITHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of Ta...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against Tallgrass Energy Partners, LP (“TEP”) (NYSE: TEP) and the board of directors (“Board”) of its general partner, Tallgrass Energy GP, LP (“TEGP”). On March 26, 2018, the Board caused TEP to enter into an agreement and plan of merger (the “Merger Agreement”) with TEGP. Pursuant to the terms of the Merger Agreement, TEGP will acquire the approximately 47.6 million TEP common units held by the public ...
- Stephen Ellis
Tallgrass GP Buys Out LP in Well-Structured Transaction; We See Upside...
Tallgrass Energy GP has agreed to acquire Tallgrass Energy Partners in a stock-for-unit transaction in which TEP unitholders will receive 2 TEGP shares for every unit they own. At current prices, the transaction implies a valuation of $38 per unit for TEP, a sharp discount to our $51 stand-alone estimate. However, because we think TEGP is offering similarly discounted shares based on an estimated intrinsic value of around $28 per share compared with a $19 stock price, we think this is an advanta...
FERC Tax Policy Revisions Expected to be Immaterial to Tallgrass Energ...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE:TEP) announced today that it does not expect policy revisions governing recovery of income taxes released today from the Federal Energy Regulatory Commission (FERC) to have a material impact on the company’s revenues. “While we are in the process of reviewing the FERC orders, it’s important to note that the bulk of TEP’s revenues come from REX and Pony Express,” said Tallgrass Energy President and CEO David G. Dehaemers Jr. “Both REX and Pony Express have ne...
Tallgrass Energy Announces Fourth Quarter & Full Year 2017 Results and...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) ("TEP") and Tallgrass Energy GP, LP (NYSE: TEGP) ("TEGP"), collectively referred to as Tallgrass Energy, today reported financial and operating results for the fourth quarter of 2017. "Tallgrass Energy delivered another outstanding year in 2017, meeting the high-end of the Adjusted EBITDA, DCF and distribution coverage guidance we provided in February of 2017 while growing distributions in excess of 18 and 32 percent at TEP and TEGP respectively. In ad...
Tallgrass Energy Partners and Silver Creek Midstream Announce Joint Ve...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) (“Tallgrass”) and Silver Creek Midstream, LLC (“Silver Creek”) announced today that they have signed definitive documents to develop the Iron Horse Pipeline (“Iron Horse”), a joint venture pipeline to transport crude oil from the growing Powder River Basin (“PRB”) to Guernsey, Wyo. Iron Horse will connect Silver Creek’s developing gathering system to the Tallgrass Guernsey Terminal, which is currently under construction, and then to Tallgrass’s Pony Express cru...
Tallgrass Energy Partners Announces Acquisition Expanding Water Infras...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP), through its subsidiary BNN Water Solutions, LLC (“BNN”), today announced the acquisition of water infrastructure assets that establishes Tallgrass’s footprint in the Bakken, delivers new business for BNN and provides Tallgrass a platform from which to build additional midstream business in the Bakken. BNN acquired Buckhorn SWD Solutions, LLC and Buckhorn Energy Services, LLC (“Buckhorn”), which collectively own 10 salt water disposal wells and approxi...
Tallgrass Energy Increases Quarterly Distributions and Announces Date ...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) (“Tallgrass”) today announced their quarterly distributions for the fourth quarter of 2017. The distributions will be paid on Wednesday, February 14, 2018, to unitholders and shareholders of record as of the close of business on Wednesday, January 31, 2018. TEP The board of directors of TEP’s general partner declared a quarterly cash distribution of $0.965 per common unit for the fourth quarter of ...
Tallgrass Energy Partners Announces Crude Oil Terminal Acquisitions an...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) today announced two strategic acquisitions by its Tallgrass Terminals business and several significant commercial developments that continue to expand the variety of services offered by Pony Express in key crude oil producing basins it serves. “Today’s announcements, along with last week’s news of the five-year contract extension with Pony Express’ largest customer, continue to solidify Pony Express’ track record as a reliable and diverse pipeline and ...
Tallgrass Energy Partners Announces Continental Resources Contract Ext...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (“TEP”) today announced that Continental Resources, Inc. (“Continental”) (NYSE: CLR) exercised its contractual right to extend its Throughput and Deficiency Agreements (“TDAs”) to ship crude oil with Belle Fourche Pipeline Company (“BFPL”) and with TEP’s subsidiary, Tallgrass Pony Express Pipeline, LLC (“Pony Express”), through Oct. 31, 2024. The TDAs were previously scheduled to expire on Oct. 31, 2019. “This is a unique, mutually beneficial opportunity in the cu...
Tallgrass Energy Partners, LP (TEP) - Oil & Gas - Deals and Alliances ...
Summary Tallgrass Energy Partners, LP (Tallgrass Energy) is a midstream oil and gas company. It owns, operates, acquires and develops midstream energy assets in North America. The company offers natural gas transportation and storage services through its pipeline and natural gas processing assets to customers in the Rocky Mountains and Midwest regions of the US. The company also provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions, servicing the Bakke...
Tallgrass Energy Partners Prices Offering of $250 Million of Additiona...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP”) announced today that it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, priced a private offering of $250 million aggregate principal amount of their 5.50% Senior Notes due 2028 (the “Additional Notes”). The Additional Notes will be issued at 101.5% of par, plus accrued interest from September 15, 2017. The offering is expected to close on December 11, 2017, subject to customary closing conditions. The Additional Notes are an a...
Tallgrass Energy Partners Announces Offering of $250 Million of Additi...
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP”) announced today that, subject to market conditions, it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, intends to offer $250 million aggregate principal amount of their 5.50% Senior Notes due 2028 (the “Additional Notes”) in a private placement to eligible purchasers (the “Notes Offering”). The Additional Notes are an additional issue of TEP’s existing 5.50% Senior Notes due 2028 (the “Existing Notes”) that TEP issued in an aggregate pr...
A director bought 11,350 shares at 43.140USD and
A director at Tallgrass Energy Partners Lp bought 11,350 shares at 43.140USD and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
Tallgrass Energy CFO to Present at EMG Investor Conference
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy GP, LP (NYSE: TEGP) ("Tallgrass") today announced that the Executive Vice President and Chief Financial Officer of their respective general partners, Gary J. Brauchle, will make a presentation to the investors of The Energy & Minerals Group on December 5, 2017 in Houston, Texas. Related slides will be posted on Tallgrass's website on December 5, 2017. TEP unitholders, TEGP shareholders and other interested parties are invited to view those ...
- Stephen Ellis
Tallgrass is focused on expanding its presence around attractive Rocki...
Tallgrass continues to report healthy growth, and we like its efforts to tie in more gas to the giant Rockies Express Pipeline. We plan to maintain our $51 fair value estimate and narrow moat rating. Results mainly improved due to the additional 24.99% stake in REX acquired earlier this year, as revenue more than tripled to $184 million and adjusted EBITDA more than doubled to $239 million from last year’s levels. However, a good portion of the contribution was due to the $150 million cash pay...
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