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TEP

Tallgrass Energy Partners

$37.70

1.52 (4.20%)

06:50
02/13/18
02/13
06:50
02/13/18
06:50

Tallgrass Energy Partners sees FY18 adjusted EBITDA $755M-$835M

Sees FY18 maintenance capital expenditures $20M-$30M. Additionally, management expects distribution growth of 7%-10% percent for TEP and 37%-40% for TEGP if they were to each remain standalone entities for all of 2018. Tallgrass Energy Adjusted EBITDA includes the Adjusted EBITDA for the assets owned by TEP as of Dec. 31, 2017, the additional 2% of Pony Express and the distributions attributable to the additional 25.01% membership interest in REX. Tallgrass Energy Adjusted EBITDA does not include our estimate of approximately $15M-$25M of shipper deficiency payments that would be included in Distributable Cash Flow.

  • 13

    Feb

TEP Tallgrass Energy Partners
$37.70

1.52 (4.20%)

02/12/18
LEHM
02/12/18
DOWNGRADE
Target $25
LEHM
Equal Weight
Tallgrass Energy GP downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Christine Cho downgraded Tallgrass Energy GP (TEGP) to Equal Weight and lowered her price target for the shares to $25 from $30. The analyst says her analysis suggests a Tallgrass Energy GP acquisition of Tallgrass Energy Partners (TEP) is the most likely scenario. She values Tallgrass Energy GP at $25 in this scenario.
02/12/18
LEHM
02/12/18
UPGRADE
Target $43
LEHM
Overweight
Tallgrass Energy Partners upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Christine Cho upgraded Tallgrass Energy Partners (TEP) to Overweight while lowering her price target for the shares to $43 from $50. The analyst says her analysis suggests a Tallgrass Energy GP (TEGP) acquisition of Tallgrass Energy Partners is the most likely scenario. She values Tallgrass Energy Partner at $43 in this scenario.
02/12/18
02/12/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nasdaq (NDAQ) upgraded to Outperform from Market Perform at Wells Fargo by analyst Christopher Harris, who said the company is at an inflection point where both its trading and non-trading segments will begin to generate faster growth. He sees a "pathway to much higher profit margin" over the next two years and believes the stock is "relatively inexpensive" at a discount to the S&P 500 Index. 2. Teva (TEVA) upgraded to Outperform from Neutral at Credit Suisse by analyst Vamil Divan. The analyst sees "early execution" towards the company's restructuring plan and believes its 2018 outlook is achievable. He feels expectations are now reasonable believes the upside path is now clearer. 3. Cisco Systems (CSCO) upgraded to Buy from Neutral at Nomura Instinet by analyst Jeffrey Kvaal to reflect the webscale uptick and believes tax reform and the company's recurring revenue transition provide downside protection. Kvaal believes the recent pullback in Cisco shares provides a buying opportunity. 4. Tallgrass Energy Partners (TEP) upgraded to Overweight from Equal Weight at Barclays by analyst Christine Cho, who lowered her price target to $43 from $50. The analyst said her analysis suggests a Tallgrass Energy GP (TEGP) acquisition of Tallgrass Energy Partners is the most likely scenario. She valued Tallgrass Energy Partner at $43 in this scenario. 5. VF Corp (VFC) upgraded to Buy from hold at Stifel by analyst Jim Duffy, who sees fiscal 2019 consensus estimates rising throughout the year due to fundamental strength, environmental factors, and currency. Duffy believes VF shares can sustain the premium multiple for the "foreseeable future." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/12/18
02/12/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. La Jolla (LJPC) downgraded to Underperform from Buy at Jefferies by analyst Eun Yang, who said her critical care physician and Pharmacy & Therapeutics committee member polls on Giapreza point to a "likely modest" sales opportunity relative to consensus expectations. In the absence of a potential buyout, downside risks in the stock are greater relative to upside potential in the next two-to-three years. 2. Natural Grocers (NGVC) downgraded to Underweight from Equal Weight at Barclays by analyst Karen Short, who believes upside can only be generated should comps rise to positive low single digits with stable margins, an activist emerges, or if the company were to be viewed as a potential takeout candidate. She believes these scenarios are unlikely, "at least for now." 3. EQT Midstream (EQM) and EQT GP (EQGP) downgraded to Sector Perform from Outperform at RBC Capital by analyst TJ Schultz, who derived his rating from his probability scale around the midstream business, assigning a 65% chance that EQT GP is the surviving entity post midstream simplification and a 30% chance that EQT Midstream Partners is the surviving entity. 4. Tallgrass Energy GP (TEGP) downgraded to Equal Weight from Overweight at Barclays by analyst Christine Cho, who said her analysis suggests a Tallgrass Energy GP acquisition of Tallgrass Energy Partners (TEP) is the most likely scenario. She valued Tallgrass Energy GP at $25 in this scenario. 5. Unisys (UIS) downgraded to Neutral from Positive at Susquehanna. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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ORCL

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GE

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BPOP

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ORCL

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FDX

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ORCL

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