Tallgrass Operations, Llc. is Buying Tallgrass Energy Partners Lp. (NYSE:TEP) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tallgrass Energy Partners Lp. (NYSE:TEP) reported that Tallgrass Operations, Llc. has picked up 20,000,000 of common stock as of 2017-02-16.

The acquisition brings the aggregate amount owned by Tallgrass Operations, Llc. to a total of 20,000,000 representing a 27.7% stake in the company.

For those not familiar with the company, Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, which includes the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics, which includes the ownership and operation of Federal Energy Regulatory Commission (FERC)-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics, which includes the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquid (NGLs). It operates the Sterling Terminal near Sterling, Colorado. It also operates Buckingham Terminal in northeast Colorado. It has interest in the Deeprock Development Terminal in Cushing, Okla.

A glance at Tallgrass Energy Partners Lp. (NYSE:TEP)’s key stats reveals a current market capitalization of 3.93 billion based on 72.49 million shares outstanding and a price at last close of $53.41 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-11-10, Dehaemers picked up 7,500 at a purchase price of $43.45. This brings their total holding to 312,847 as of the date of the filing.

On the sell side, the most recent transaction saw Tallgrass unload 20,000,000 shares at a sale price of $47.68. This brings their total holding to 6,355,480.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tallgrass Energy Partners Lp. (NYSE:TEP) as things move forward to see if its progress aligns with these transactions.

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