David Dehaemers Jr. (Insider Trades), CEO and president of Tallgrass Energy Partners LP (TEP), purchased 5,300 shares of the company on May 26. The price per share was $45.11 for a total transaction of $239,083.
Tallgrass Energy Partners and Tallgrass Energy GP, LP are collectively referred to as Tallgrass Energy. Tallgrass Energy Partners is a limited partnership formed to own, operate, acquire and develop midstream energy assets in North America. Tallgrass Energy provides crude oil transportation to customers in Wyoming, Colorado and surrounding regions through Pony Express, which owns the crude oil pipeline, Pony Express System. Tallgrass Energy has a market cap of $3.18 billion and a P/S ratio of 5.74.
The volume of insider buys decreased from six transactions of 284,000 shares in 2013 to 19 transactions totaling 75,634 shares in 2014. The number and volume of insider buys increased to 15 transactions amounting to 40,124,573 shares in the following year.
Tallgrass Energy Holdings sold 20 million shares and purchased the same amount of shares in 2015. Ten percent owners Tallgrass Operations LLC and Tallgrass Equity LLC sold and purchased 20 million shares. Dehaemers acquired 145,039 shares of the company in 14 transactions since May 2013. The number of insider buys is indirectly related to the month-end price. 
For more information about insider trades with TEP, click here.
Tallgrass Energy reported total revenue of $145.41 million for the first quarter ended on March 31. The company’s total revenue increased from $114.68 million reported in the first quarter of 2015. Net income decreased from $24.88 million, or 47 cents per share, to $23.72 million, or 35 cents per share, in the same period. Annual revenue and annual net income follow an increasing trend line. 
Dehaemers commented that the company “produced an outstanding first quarter” partly due to “Pony Express’ exceptional performance as well as the acquisition of an additional Pony Express membership interest by TEP.” Dehaemers also stated that the “potential acquisition by TEP of a 25% interest in REX, a significant natural gas asset, will further strengthen, diversify and grow” the company. The close of the acquisition 25% interest in Rockies Express Pipeline was announced by TEP on May 9. The purchase from a unit of Sempra U.S. Gas and Power was for cash consideration of approximately $440 million.
In the first quarter, Ron Baron (Trades, Portfolio) increased his stake in TEP by 40.48%, acquiring 19,000 shares of the company at an average per share price of $34.93, after increasing his stake by 33.58% in the previous quarter. The total estimated gain of the holding since the second quarter of 2013 is 40%. Jim Simons (Trades, Portfolio) newly acquired 42,600 shares of TEP after selling out all 15,037 held shares in the third quarter of 2015 for an average per share price of $45.06. For more information about guru transactions with TEP, click here.
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