Tallgrass Energy GP LP (NYSE:TEGP) has received an average recommendation of “Buy” from the eight brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.67.
Several research firms recently issued reports on TEGP. Credit Suisse Group AG set a $28.00 target price on shares of Tallgrass Energy GP and gave the company a “buy” rating in a research note on Saturday, August 6th. Zacks Investment Research cut shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 28th. Finally, Barclays PLC upped their price objective on shares of Tallgrass Energy GP from $23.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th.
Several large investors have recently added to or reduced their stakes in TEGP. Teacher Retirement System of Texas raised its stake in Tallgrass Energy GP by 10.3% in the second quarter. Teacher Retirement System of Texas now owns 6,500 shares of the company’s stock worth $147,000 after buying an additional 605 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Tallgrass Energy GP by 210.8% in the second quarter. Acrospire Investment Management LLC now owns 9,436 shares of the company’s stock worth $213,000 after buying an additional 6,400 shares during the last quarter. Texas Yale Capital Corp. acquired a new stake in Tallgrass Energy GP during the second quarter worth about $214,000. BlackRock Fund Advisors raised its stake in Tallgrass Energy GP by 14.6% in the first quarter. BlackRock Fund Advisors now owns 11,963 shares of the company’s stock worth $221,000 after buying an additional 1,520 shares during the last quarter. Finally, Limestone Value Partners LLC acquired a new stake in Tallgrass Energy GP during the second quarter worth about $232,000.
Shares of Tallgrass Energy GP (NYSE:TEGP) opened at 24.14 on Wednesday. The stock has a 50 day moving average of $23.87 and a 200 day moving average of $22.50. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 34.78 and a beta of 2.28. Tallgrass Energy GP has a 12-month low of $9.66 and a 12-month high of $26.81.
Tallgrass Energy GP (NYSE:TEGP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.16. Tallgrass Energy GP had a net margin of 5.70% and a return on equity of 2.05%. Equities research analysts predict that Tallgrass Energy GP will post $0.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.2625 per share. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, October 27th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.35%. Tallgrass Energy GP’s dividend payout ratio is presently 142.03%.
About Tallgrass Energy GP
Tallgrass Energy GP, LP is a limited partnership company. The Company, through Tallgrass Energy Partners, LP (TEP), provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions through Pony Express. Its business segments include Crude Oil Transportation & Logistics Segment, which is engaged in the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics Segment, which is engaged in ownership and operation of FERC-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics Segment, which 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 (NGL).
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