Tallgrass Energy GP (TEGP) Given a $25.00 Price Target at Stifel Nicolaus

Stifel Nicolaus set a $25.00 price target on Tallgrass Energy GP (NYSE:TEGP) in a report published on Wednesday morning. The brokerage currently has a buy rating on the pipeline company’s stock.

TEGP has been the subject of several other reports. Robert W. Baird reiterated a buy rating and issued a $36.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, February 8th. Barclays reiterated a buy rating and issued a $34.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, October 19th. Morgan Stanley dropped their target price on Tallgrass Energy GP from $30.00 to $29.00 and set an equal weight rating for the company in a research note on Friday, November 17th. BidaskClub lowered Tallgrass Energy GP from a hold rating to a sell rating in a research note on Saturday, October 21st. Finally, Zacks Investment Research lowered Tallgrass Energy GP from a hold rating to a strong sell rating in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $28.67.

Tallgrass Energy GP (TEGP) opened at $22.49 on Wednesday. Tallgrass Energy GP has a 1-year low of $21.66 and a 1-year high of $29.50. The firm has a market capitalization of $3,633.57, a price-to-earnings ratio of -10.13, a PEG ratio of 2.92 and a beta of 1.76. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.55 and a quick ratio of 0.50.

Tallgrass Energy GP (NYSE:TEGP) last released its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). Tallgrass Energy GP had a positive return on equity of 2.39% and a negative net margin of 19.63%. The company had revenue of $174.77 million during the quarter, compared to analyst estimates of $187.26 million. equities research analysts anticipate that Tallgrass Energy GP will post 0.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.3675 dividend. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Tuesday, January 30th. Tallgrass Energy GP’s dividend payout ratio is presently -66.22%.

A number of hedge funds have recently bought and sold shares of the business. Glenmede Trust Co. NA grew its position in Tallgrass Energy GP by 6.6% during the fourth quarter. Glenmede Trust Co. NA now owns 40,445 shares of the pipeline company’s stock valued at $1,041,000 after acquiring an additional 2,498 shares during the period. Millennium Management LLC grew its position in Tallgrass Energy GP by 121.7% during the fourth quarter. Millennium Management LLC now owns 617,415 shares of the pipeline company’s stock valued at $15,892,000 after acquiring an additional 338,926 shares during the period. Raymond James & Associates grew its position in Tallgrass Energy GP by 22.6% during the fourth quarter. Raymond James & Associates now owns 107,451 shares of the pipeline company’s stock valued at $2,766,000 after acquiring an additional 19,785 shares during the period. HBK Investments L P purchased a new stake in Tallgrass Energy GP during the fourth quarter valued at about $206,000. Finally, Goldman Sachs Group Inc. grew its position in Tallgrass Energy GP by 19.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 98,374 shares of the pipeline company’s stock valued at $2,532,000 after acquiring an additional 16,076 shares during the period. 36.25% of the stock is owned by hedge funds and other institutional investors.

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Tallgrass Energy GP Company Profile

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

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