Infrastructure Capital Advisors LLC raised its position in Tallgrass Energy LP (NYSE:TGE) by 41.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 318,666 shares of the company’s stock after purchasing an additional 94,056 shares during the period. Tallgrass Energy comprises approximately 0.8% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 21st biggest holding. Infrastructure Capital Advisors LLC owned 0.11% of Tallgrass Energy worth $6,714,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TGE. Arlington Partners LLC acquired a new stake in shares of Tallgrass Energy during the second quarter valued at $32,000. Lee Financial Co acquired a new stake in shares of Tallgrass Energy during the second quarter valued at $44,000. Avestar Capital LLC acquired a new stake in shares of Tallgrass Energy during the first quarter valued at $52,000. Price Wealth Management Inc. acquired a new stake in shares of Tallgrass Energy during the second quarter valued at $60,000. Finally, Seeyond acquired a new stake in shares of Tallgrass Energy during the second quarter valued at $90,000. 64.41% of the stock is currently owned by institutional investors.
TGE has been the topic of a number of analyst reports. Scotiabank initiated coverage on Tallgrass Energy in a research note on Tuesday, September 3rd. They set a “sector perform” rating and a $19.50 price objective on the stock. Piper Jaffray Companies initiated coverage on Tallgrass Energy in a research note on Wednesday, July 17th. They set a “neutral” rating and a $25.00 price objective on the stock. Citigroup initiated coverage on Tallgrass Energy in a research note on Tuesday, June 25th. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research raised Tallgrass Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, ValuEngine raised Tallgrass Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.50.
Tallgrass Energy (NYSE:TGE) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%. The business had revenue of $211.52 million for the quarter, compared to analysts’ expectations of $226.00 million. As a group, equities research analysts anticipate that Tallgrass Energy LP will post 1.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 10.82%. Tallgrass Energy’s dividend payout ratio is 170.08%.
Tallgrass Energy Profile
Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.
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