Tallgrass Energy GP had 21 analyst reports since August 4, 2015 according to SRatingsIntel. The shares were purchased at an average cost of $49.83 per share, for a total transaction of $1,296,377.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Finally, Zacks Investment Research lowered Tallgrass Energy GP from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 28th. About 95,757 shares traded. The ratio dropped, as 56 active investment managers opened new or increased stock positions, while 55 cut down and sold their positions in Tallgrass Energy Partners LP. The company has a 50 day moving average price of $51.23 and a 200 day moving average price of $49.86. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 44.78 and a beta of 2.21.
Tallgrass Energy GP (NYSE:TEGP) last posted its earnings results on Wednesday, May 3rd. The pipeline company reported $0.55 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.57 by $0.02. The company had revenue of $144.40 million for the quarter, compared to analyst estimates of $165.67 million. During the same period previous year, the business earned $0.35 earnings per share. Tallgrass Energy Partners's revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts anticipate that Tallgrass Energy Partners LP will post $3.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. The company was maintained on Friday, April 28 by Scotia Capital. This is an increase from Tallgrass Energy Partners's previous quarterly dividend of $0.82. This represents a $3.34 annualized dividend and a yield of 6.56%. The ex-dividend date was Wednesday, April 26th. Tallgrass Energy Partners's dividend payout ratio is presently 153.77%. If you are reading this story on another publication, it was illegally stolen and reposted in violation of global copyright and trademark law. If you are reading this article on another publication, it was illegally copied and reposted in violation of worldwide copyright and trademark legislation. As per Thursday, December 15, the company rating was downgraded by Goldman Sachs. Scotiabank reiterated a "hold" rating and set a $28.00 price target on shares of Tallgrass Energy GP in a research report on Thursday, April 27th.
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Tallgrass Energy GP, LP (:TEGP) shares are moving 1.68% trading at $27.24 today. The firm has "Sector Perform" rating given on Thursday, February 18 by RBC Capital Markets.
04/18/2016 - Tallgrass Energy GP, LP was upgraded to "buy" by analysts at Deutsche Bank. The stock now has an average rating of "Hold" and an average target price of $28.89. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. They issued an "outperform" rating and a $61.00 price target on the stock.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. now owns 16,427 shares of the pipeline company's stock worth $472,000 after buying an additional 1,142 shares during the last quarter. The stock rose 1.70% or $0.59 reaching $35.33 per share. Morgan Stanley boosted its position in Tallgrass Energy Partners by 3.1% in the first quarter. Koch Industries Inc. acquired a new position in shares of Tallgrass Energy Partners during the fourth quarter worth $228,000. Friedberg Investment Management boosted its position in Tallgrass Energy GP by 29.5% in the first quarter. Morgan Stanley now owns 2,506,358 shares of the pipeline company's stock valued at $133,337,000 after buying an additional 75,518 shares in the last quarter. TEP owns, operates, acquires and develops midstream energy assets in North America.