Tallgrass Energy GP LP (TEGP) Rating Reiterated by Royal Bank of Canada

Tallgrass Energy GP LP (NYSE:TEGP)‘s stock had its “hold” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday. They currently have a $30.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 8.34% from the company’s current price.

TEGP has been the topic of several other reports. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “sell” rating to a “hold” rating in a research report on Friday, February 24th. Stifel Nicolaus upgraded shares of Tallgrass Energy GP from a “hold” rating to a “buy” rating in a research report on Tuesday, February 21st. Scotiabank lowered shares of Tallgrass Energy GP to a “hold” rating in a research report on Thursday, December 15th. Howard Weil lowered shares of Tallgrass Energy GP to a “sector perform” rating in a research report on Thursday, December 15th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc lowered shares of Tallgrass Energy GP from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $25.00 to $23.00 in a research report on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.78.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

Shares of Tallgrass Energy GP (NYSE:TEGP) opened at 27.69 on Friday. Tallgrass Energy GP has a 12-month low of $16.10 and a 12-month high of $29.30. The firm has a market capitalization of $1.61 billion, a PE ratio of 50.53 and a beta of 2.21. The company has a 50-day moving average price of $27.62 and a 200 day moving average price of $25.51.

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Hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC acquired a new stake in Tallgrass Energy GP during the third quarter valued at approximately $266,000. Chicago Partners Investment Group LLC raised its stake in Tallgrass Energy GP by 23.3% in the third quarter. Chicago Partners Investment Group LLC now owns 13,870 shares of the company’s stock valued at $334,000 after buying an additional 2,620 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Tallgrass Energy GP by 5.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,285 shares of the company’s stock valued at $410,000 after buying an additional 771 shares in the last quarter. MAI Capital Management raised its stake in Tallgrass Energy GP by 10.8% in the third quarter. MAI Capital Management now owns 27,808 shares of the company’s stock valued at $669,000 after buying an additional 2,700 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Tallgrass Energy GP by 21.3% in the fourth quarter. First Republic Investment Management Inc. now owns 39,185 shares of the company’s stock valued at $1,050,000 after buying an additional 6,880 shares in the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

Tallgrass Energy GP Company Profile

5 Day Chart for NYSE:TEGP

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