Tallgrass Energy GP, LP (TEGP) Expected to Announce Earnings of $0.24 Per Share

Equities research analysts expect that Tallgrass Energy GP, LP (NYSE:TEGP) will post $0.24 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Tallgrass Energy GP,’s earnings, with estimates ranging from $0.23 to $0.26. Tallgrass Energy GP, posted earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 242.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 2nd.

On average, analysts expect that Tallgrass Energy GP, will report full year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $1.11 to $1.21. For the next year, analysts expect that the firm will post earnings of $1.17 per share, with EPS estimates ranging from $1.05 to $1.26. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Tallgrass Energy GP,.

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

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

Shares of Tallgrass Energy GP, (NYSE TEGP) traded down 2.21% during midday trading on Thursday, reaching $22.99. The company’s stock had a trading volume of 29,138 shares. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 37.87 and a beta of 2.17. The stock has a 50-day moving average of $25.98 and a 200 day moving average of $26.89. Tallgrass Energy GP, has a 12 month low of $20.38 and a 12 month high of $29.50.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA purchased a new position in Tallgrass Energy GP, during the first quarter worth about $115,000. SG Americas Securities LLC bought a new position in shares of Tallgrass Energy GP, during the first quarter valued at approximately $119,000. Summit Asset Management LLC bought a new position in shares of Tallgrass Energy GP, during the first quarter valued at approximately $201,000. Geode Capital Management LLC bought a new position in shares of Tallgrass Energy GP, during the first quarter valued at approximately $209,000. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Tallgrass Energy GP, during the fourth quarter valued at approximately $221,000.

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