In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tallgrass Energy Partners Lp (NYSE:TEP) reported that Tortoise Capital Advisors, L.l.c. has picked up 7,327,764 of common stock as of 2017-07-07.
The acquisition brings the aggregate amount owned by Tortoise Capital Advisors, L.l.c. to a total of 7,327,764 representing a 10.1% 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, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities. The Natural Gas Transportation & Logistics segment is engaged in the ownership and operation of FERC regulated interstate natural gas pipelines and integrated natural gas storage facilities. The Processing & Logistics segment is engaged in 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 liquids (NGLs).
A glance at Tallgrass Energy Partners Lp (NYSE:TEP)’s key stats reveals a current market capitalization of $3.68 Billion based on $72.18 Million shares outstanding and a price at last close of $50.44 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-07, Dehaemers picked up 35,783 at a purchase price of $46.47. This brings their total holding to 404,137 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 Tallgrass Energy Partners Lp (NYSE:TEP) as things move forward to see if its progress aligns with these transactions.
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