Yesterday, the company said it's evaluating a $600 million offer to purchase a 33.3% interest in Tallgrass Pony Express Pipeline, LLC, which owns the Pony Express pipeline project.
The Pony Express pipeline will transport domestic light crude from parts of North Dakota and Montana to Oklahoma when completed.
Shares of Tallgrass Energy Partners closed at $39.16 yesterday.
Separately, TheStreet Ratings team rates TALLGRASS ENERGY PRT LP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate TALLGRASS ENERGY PRT LP (TEP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and poor profit margins."
- You can view the full analysis from the report here: TEP Ratings Report