Tallgrass Energy GP (TEGP) Now Covered by Credit Suisse Group

Equities researchers at Credit Suisse Group began coverage on shares of Tallgrass Energy GP (NYSE:TEGP) in a report released on Thursday. The brokerage set an “underperform” rating and a $21.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective suggests a potential downside of 15.76% from the company’s previous close.

Several other research firms also recently issued reports on TEGP. Robert W. Baird restated a “buy” rating and issued a $32.00 price target on shares of Tallgrass Energy GP in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 21st. Barclays restated a “buy” rating and issued a $34.00 price target on shares of Tallgrass Energy GP in a research note on Thursday, October 19th. BidaskClub downgraded Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $31.00 target price on shares of Tallgrass Energy GP in a research report on Sunday, October 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Tallgrass Energy GP has a consensus rating of “Hold” and a consensus target price of $30.00.

Shares of Tallgrass Energy GP (TEGP) opened at $24.93 on Thursday. The stock has a market capitalization of $4,048.66, a price-to-earnings ratio of 31.16, a P/E/G ratio of 3.19 and a beta of 1.97. Tallgrass Energy GP has a one year low of $21.79 and a one year high of $29.50. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18.

In related news, insider David G. Dehaemers, Jr. bought 5,428 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $25.04 per share, for a total transaction of $135,917.12. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Gerke bought 9,800 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $25.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here.

Large investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Tallgrass Energy GP by 5.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,303,355 shares of the pipeline company’s stock worth $93,320,000 after buying an additional 180,570 shares in the last quarter. Harvest Fund Advisors LLC raised its holdings in shares of Tallgrass Energy GP by 82.2% during the 3rd quarter. Harvest Fund Advisors LLC now owns 3,266,244 shares of the pipeline company’s stock worth $92,271,000 after buying an additional 1,473,761 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tallgrass Energy GP by 3.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,236,899 shares of the pipeline company’s stock worth $34,942,000 after buying an additional 36,683 shares in the last quarter. Dividend Assets Capital LLC raised its holdings in shares of Tallgrass Energy GP by 0.7% during the 3rd quarter. Dividend Assets Capital LLC now owns 750,564 shares of the pipeline company’s stock worth $21,203,000 after buying an additional 5,188 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC raised its holdings in shares of Tallgrass Energy GP by 28.9% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 528,568 shares of the pipeline company’s stock worth $14,932,000 after buying an additional 118,595 shares in the last quarter. Hedge funds and other institutional investors own 36.31% of the company’s stock.

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