Candriam Luxembourg S.C.A. Makes New $4.44 Million Investment in Tallgrass Energy LP (NYSE:TGE)

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Candriam Luxembourg S.C.A. bought a new position in Tallgrass Energy LP (NYSE:TGE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 200,899 shares of the company’s stock, valued at approximately $4,444,000. Candriam Luxembourg S.C.A. owned approximately 0.07% of Tallgrass Energy at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of Tallgrass Energy in the fourth quarter worth $885,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Tallgrass Energy by 3.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 401,807 shares of the company’s stock worth $8,888,000 after buying an additional 13,307 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Tallgrass Energy in the fourth quarter worth $287,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tallgrass Energy by 62.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,000 shares of the company’s stock worth $2,831,000 after buying an additional 49,000 shares during the last quarter. Finally, CFM Wealth Partners LLC purchased a new position in shares of Tallgrass Energy in the fourth quarter worth $291,000. Institutional investors and hedge funds own 55.42% of the company’s stock.

Shares of Tallgrass Energy stock opened at $22.30 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.63. The firm has a fifty day moving average price of $22.25 and a 200 day moving average price of $19.65. Tallgrass Energy LP has a 1 year low of $14.28 and a 1 year high of $25.96. The stock has a market cap of $6.27 billion, a PE ratio of 14.97 and a beta of 0.72.

Tallgrass Energy (NYSE:TGE) last issued its earnings results on Wednesday, February 12th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). Tallgrass Energy had a return on equity of 11.24% and a net margin of 29.74%. The business had revenue of $232.96 million for the quarter, compared to analysts’ expectations of $229.50 million. As a group, equities analysts expect that Tallgrass Energy LP will post 1.46 EPS for the current year.

TGE has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $20.00 price target on shares of Tallgrass Energy and gave the stock a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co cut shares of Tallgrass Energy from an “equal weight” rating to an “underweight” rating in a report on Tuesday, January 7th. Zacks Investment Research raised shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, January 28th. Finally, ValuEngine raised shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.33.

About Tallgrass Energy

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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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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