Virtus ETF Advisers LLC Acquires Shares of 223,053 Tallgrass Energy LP (TGE)

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Virtus ETF Advisers LLC acquired a new position in shares of Tallgrass Energy LP (NYSE:TGE) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 223,053 shares of the company’s stock, valued at approximately $5,429,000. Tallgrass Energy makes up 0.9% of Virtus ETF Advisers LLC’s portfolio, making the stock its 21st biggest holding.

A number of other institutional investors have also modified their holdings of the stock. Private Capital Group LLC acquired a new position in Tallgrass Energy during the fourth quarter valued at $55,000. Oppenheimer & Co. Inc. acquired a new position in Tallgrass Energy during the fourth quarter valued at $374,000. Oppenheimer Asset Management Inc. acquired a new position in Tallgrass Energy during the fourth quarter valued at $534,000. MAI Capital Management acquired a new position in Tallgrass Energy during the fourth quarter valued at $4,019,000. Finally, Eagle Global Advisors LLC acquired a new position in Tallgrass Energy during the fourth quarter valued at $46,641,000. 49.98% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on TGE. Zacks Investment Research raised Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Saturday, January 19th. US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Bank of America began coverage on Tallgrass Energy in a research report on Friday, January 11th. They set an “underperform” rating and a $22.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Tallgrass Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Tallgrass Energy currently has a consensus rating of “Hold” and a consensus target price of $26.00.

In other news, insider David G. Dehaemers, Jr. bought 20,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were purchased at an average price of $20.52 per share, for a total transaction of $410,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 28.59% of the company’s stock.

NYSE TGE traded up $0.07 on Tuesday, reaching $22.72. The stock had a trading volume of 9,278 shares, compared to its average volume of 1,276,000. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.73 and a quick ratio of 0.66. Tallgrass Energy LP has a 1 year low of $17.14 and a 1 year high of $26.35. The company has a market capitalization of $6.42 billion, a P/E ratio of 17.83 and a beta of 0.98.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $2.08 dividend on an annualized basis and a yield of 9.15%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.51. Tallgrass Energy’s payout ratio is 163.78%.

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About Tallgrass Energy

Tallgrass Energy, 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.

Further Reading: Can systematic risk be avoided?

Want to see what other hedge funds are holding TGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy LP (NYSE:TGE).

Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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