Tallgrass Energy GP (TEGP) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Tallgrass Energy GP (NYSE:TEGP) from a hold rating to a sell rating in a research report sent to investors on Monday.

Several other analysts have also weighed in on TEGP. Stifel Nicolaus lowered their target price on shares of Tallgrass Energy GP from $25.00 to $24.00 and set a buy rating for the company in a research note on Wednesday, March 28th. Citigroup lowered their target price on shares of Tallgrass Energy GP from $28.00 to $22.00 and set a buy rating for the company in a research note on Tuesday, March 27th. Morgan Stanley lowered their target price on shares of Tallgrass Energy GP from $29.00 to $21.00 and set an equal weight rating for the company in a research note on Wednesday, March 28th. Robert W. Baird reissued a buy rating and set a $36.00 price target on shares of Tallgrass Energy GP in a report on Thursday, February 8th. Finally, TheStreet downgraded shares of Tallgrass Energy GP from a c- rating to a d rating in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tallgrass Energy GP has a consensus rating of Hold and a consensus price target of $25.64.

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TEGP stock opened at $19.30 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.61 and a quick ratio of 0.52. Tallgrass Energy GP has a 1-year low of $17.14 and a 1-year high of $29.36. The firm has a market cap of $3,496.30, a price-to-earnings ratio of 25.39 and a beta of 1.89.

Tallgrass Energy GP (NYSE:TEGP) last released its earnings results on Tuesday, February 13th. The pipeline company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). Tallgrass Energy GP had a negative net margin of 19.63% and a positive return on equity of 2.43%. The business had revenue of $174.77 million for the quarter, compared to the consensus estimate of $187.26 million. equities research analysts predict that Tallgrass Energy GP will post 1.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be issued a $0.488 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.95 annualized dividend and a yield of 10.11%. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.37. Tallgrass Energy GP’s dividend payout ratio is presently 193.42%.

A number of hedge funds and other institutional investors have recently modified their holdings of TEGP. State Street Corp lifted its holdings in Tallgrass Energy GP by 15.1% in the 2nd quarter. State Street Corp now owns 67,276 shares of the pipeline company’s stock valued at $1,711,000 after acquiring an additional 8,828 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Tallgrass Energy GP by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after acquiring an additional 330 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Tallgrass Energy GP by 55.1% in the 3rd quarter. Citadel Advisors LLC now owns 77,244 shares of the pipeline company’s stock valued at $2,182,000 after acquiring an additional 27,445 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in Tallgrass Energy GP in the 3rd quarter valued at about $1,105,000. Finally, Wells Fargo & Company MN lifted its holdings in Tallgrass Energy GP by 14.2% in the 3rd quarter. Wells Fargo & Company MN now owns 126,871 shares of the pipeline company’s stock valued at $3,585,000 after acquiring an additional 15,800 shares during the last quarter. 30.95% of the stock is owned by institutional investors.

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Tallgrass Energy GP Company Profile

Tallgrass Energy GP, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

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