Tallgrass Energy GP LP (TEGP) Insider Purchases $221,000.00 in Stock

Tallgrass Energy GP LP (NYSE:TEGP) insider David G. Dehaemers, Jr. acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was bought at an average cost of $22.10 per share, with a total value of $221,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

NYSE:TEGP traded down $0.02 during trading hours on Thursday, hitting $22.13. 374,040 shares of the stock were exchanged, compared to its average volume of 482,588. Tallgrass Energy GP LP has a 52-week low of $17.14 and a 52-week high of $28.94. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The firm has a market cap of $4.27 billion, a P/E ratio of 29.05 and a beta of 1.88.

Tallgrass Energy GP (NYSE:TEGP) last posted its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Tallgrass Energy GP had a positive return on equity of 2.54% and a negative net margin of 17.96%. The company had revenue of $179.09 million during the quarter. research analysts forecast that Tallgrass Energy GP LP will post 1.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were paid a dividend of $0.488 per share. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.37. This represents a $1.95 annualized dividend and a yield of 8.82%. The ex-dividend date of this dividend was Friday, April 27th. Tallgrass Energy GP’s payout ratio is 256.58%.

Several brokerages recently weighed in on TEGP. Robert W. Baird restated a “buy” rating and issued a $35.00 price target on shares of Tallgrass Energy GP in a research note on Friday, February 16th. TheStreet lowered Tallgrass Energy GP from a “c-” rating to a “d” rating in a research note on Wednesday, February 14th. Zacks Investment Research upgraded Tallgrass Energy GP from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Thursday, April 5th. ValuEngine lowered Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, Stifel Nicolaus set a $25.00 price target on Tallgrass Energy GP and gave the company a “buy” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.22.

A number of large investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in Tallgrass Energy GP during the 1st quarter worth approximately $270,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Tallgrass Energy GP in the first quarter valued at approximately $856,000. Millennium Management LLC grew its position in shares of Tallgrass Energy GP by 59.5% in the first quarter. Millennium Management LLC now owns 984,650 shares of the pipeline company’s stock valued at $18,728,000 after purchasing an additional 367,235 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Tallgrass Energy GP in the first quarter valued at approximately $255,000. Finally, Mariner LLC purchased a new stake in shares of Tallgrass Energy GP in the first quarter valued at approximately $214,000. Institutional investors own 31.77% of the company’s stock.

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.

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