$163.74 Million in Sales Expected for Tallgrass Energy GP, LP (TEGP) This Quarter

Analysts expect Tallgrass Energy GP, LP (NYSE:TEGP) to announce $163.74 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Tallgrass Energy GP,’s earnings. The lowest sales estimate is $152.36 million and the highest is $181.20 million. Tallgrass Energy GP, posted sales of $146.93 million in the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 2nd.

According to Zacks, analysts expect that Tallgrass Energy GP, will report full year sales of $163.74 million for the current year, with estimates ranging from $610.64 million to $735.80 million. For the next year, analysts expect that the firm will report sales of $676.21 million per share, with estimates ranging from $649.80 million to $702.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Tallgrass Energy GP,.

Tallgrass Energy GP, (NYSE:TEGP) last released its earnings results on Wednesday, May 3rd. The pipeline company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $144.40 million during the quarter, compared to analyst estimates of $165.67 million. Tallgrass Energy GP, had a net margin of 5.17% and a return on equity of 1.69%.

A number of research analysts have recently commented on TEGP shares. Zacks Investment Research raised shares of Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a research report on Friday, February 24th. Stifel Nicolaus raised shares of Tallgrass Energy GP, from a “hold” rating to a “buy” rating in a report on Tuesday, February 21st. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and set a $32.00 target price on shares of Tallgrass Energy GP, in a report on Thursday, April 20th. Macquarie assumed coverage on shares of Tallgrass Energy GP, in a report on Friday, April 21st. They set an “outperform” rating and a $32.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $30.00 target price on shares of Tallgrass Energy GP, in a report on Friday, March 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.33.

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Several hedge funds have recently made changes to their positions in TEGP. Bank of Montreal Can increased its stake in shares of Tallgrass Energy GP, by 0.6% in the first quarter. Bank of Montreal Can now owns 22,158 shares of the pipeline company’s stock valued at $637,000 after buying an additional 126 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tallgrass Energy GP, by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock valued at $1,655,000 after buying an additional 665 shares during the last quarter. Heronetta Management L.P. increased its stake in shares of Tallgrass Energy GP, by 1.7% in the first quarter. Heronetta Management L.P. now owns 43,100 shares of the pipeline company’s stock valued at $1,240,000 after buying an additional 700 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Tallgrass Energy GP, by 5.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,285 shares of the pipeline company’s stock valued at $410,000 after buying an additional 771 shares during the last quarter. Finally, Global Endowment Management LP increased its stake in shares of Tallgrass Energy GP, by 5.1% in the first quarter. Global Endowment Management LP now owns 22,760 shares of the pipeline company’s stock valued at $654,000 after buying an additional 1,100 shares during the last quarter.

Tallgrass Energy GP, (NYSE TEGP) traded down 2.21% on Friday, reaching $22.99. 29,138 shares of the company’s stock were exchanged. The firm has a market cap of $1.34 billion, a PE ratio of 37.87 and a beta of 2.17. Tallgrass Energy GP, has a 12 month low of $20.38 and a 12 month high of $29.50. The firm’s 50-day moving average is $25.98 and its 200-day moving average is $26.89.

Tallgrass Energy GP, Company Profile

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