Barclays PLC reissued their buy rating on shares of Tallgrass Energy GP, LP (NYSE:TEGP) in a report released on Thursday. The brokerage currently has a $34.00 price target on the pipeline company’s stock.
TEGP has been the topic of a number of other research reports. Scotiabank set a $28.00 target price on Tallgrass Energy GP, and gave the company a hold rating in a research note on Saturday, July 22nd. BidaskClub cut Tallgrass Energy GP, from a hold rating to a sell rating in a research note on Wednesday, August 9th. Zacks Investment Research cut Tallgrass Energy GP, from a hold rating to a sell rating in a research note on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a hold rating and set a $30.00 target price on shares of Tallgrass Energy GP, in a research note on Monday, July 31st. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $29.00 target price (up previously from $28.00) on shares of Tallgrass Energy GP, in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $30.11.
Tallgrass Energy GP, (NYSE TEGP) traded down 1.18% during midday trading on Thursday, hitting $26.77. The stock had a trading volume of 75,332 shares. Tallgrass Energy GP, has a 1-year low of $21.74 and a 1-year high of $29.50. The stock’s 50-day moving average is $27.40 and its 200-day moving average is $26.26. The stock has a market capitalization of $1.55 billion, a PE ratio of 39.60 and a beta of 2.17.
Tallgrass Energy GP, (NYSE:TEGP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The business had revenue of $160.86 million for the quarter, compared to the consensus estimate of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. On average, equities research analysts anticipate that Tallgrass Energy GP, will post $0.93 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a $0.355 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.42 annualized dividend and a yield of 5.30%. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. Tallgrass Energy GP,’s dividend payout ratio is 201.47%.
Large investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Tallgrass Energy GP, by 3.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,200,216 shares of the pipeline company’s stock worth $30,521,000 after purchasing an additional 34,654 shares in the last quarter. Financial Counselors Inc. grew its stake in Tallgrass Energy GP, by 23.9% in the second quarter. Financial Counselors Inc. now owns 96,957 shares of the pipeline company’s stock worth $2,466,000 after purchasing an additional 18,710 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Tallgrass Energy GP, in the first quarter worth approximately $115,000. Miller Howard Investments Inc. NY grew its stake in Tallgrass Energy GP, by 7.1% in the second quarter. Miller Howard Investments Inc. NY now owns 35,428 shares of the pipeline company’s stock worth $901,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Clinton Group Inc. bought a new position in Tallgrass Energy GP, in the second quarter worth approximately $1,249,000. 36.85% of the stock is currently owned by institutional investors.
About Tallgrass Energy GP,
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