Tallgrass Energy GP (TEGP) PT Set at $25.00 by Robert W. Baird

Tallgrass Energy GP (NYSE:TEGP) has been given a $25.00 price objective by analysts at Robert W. Baird in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Robert W. Baird’s target price points to a potential upside of 31.23% from the company’s previous close.

A number of other equities research analysts have also weighed in on TEGP. Zacks Investment Research raised Tallgrass Energy GP from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Thursday. ValuEngine lowered Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Stifel Nicolaus decreased their price target on Tallgrass Energy GP from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, March 28th. Citigroup decreased their price target on Tallgrass Energy GP from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, March 27th. Finally, Morgan Stanley decreased their price target on Tallgrass Energy GP from $29.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.64.

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Shares of TEGP opened at $19.05 on Thursday. Tallgrass Energy GP has a twelve month low of $17.14 and a twelve month high of $29.36. The company has a market capitalization of $3,496.30, a price-to-earnings ratio of 25.07 and a beta of 1.89. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.52 and a current ratio of 0.61.

Tallgrass Energy GP (NYSE:TEGP) last announced its quarterly earnings data on Tuesday, February 13th. The pipeline company reported $0.13 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $187.26 million. analysts expect that Tallgrass Energy GP will post 1.24 EPS for the current year.

A number of hedge funds have recently bought and sold shares of TEGP. Millennium Management LLC lifted its stake in Tallgrass Energy GP by 121.7% in the 4th quarter. Millennium Management LLC now owns 617,415 shares of the pipeline company’s stock valued at $15,892,000 after buying an additional 338,926 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Tallgrass Energy GP by 9.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,663,837 shares of the pipeline company’s stock valued at $68,567,000 after buying an additional 226,300 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Tallgrass Energy GP by 5.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,303,355 shares of the pipeline company’s stock valued at $93,320,000 after buying an additional 180,570 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Tallgrass Energy GP by 1.2% in the 4th quarter. OppenheimerFunds Inc. now owns 12,310,643 shares of the pipeline company’s stock valued at $316,876,000 after buying an additional 140,233 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Tallgrass Energy GP by 266.7% in the 4th quarter. Renaissance Technologies LLC now owns 182,263 shares of the pipeline company’s stock valued at $4,691,000 after buying an additional 132,563 shares in the last quarter. 30.95% of the stock is currently owned by hedge funds and other institutional investors.

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About Tallgrass Energy GP

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.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

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