Tallgrass Energy GP LP (TEGP) Expected to Announce Earnings of $0.23 Per Share

Analysts expect Tallgrass Energy GP LP (NYSE:TEGP) to post earnings of $0.23 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Tallgrass Energy GP’s earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.17. Tallgrass Energy GP reported earnings per share of $0.21 in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is expected to report its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Tallgrass Energy GP will report full-year earnings of $1.08 per share for the current fiscal year, with EPS estimates ranging from $0.91 to $1.24. For the next fiscal year, analysts expect that the business will report earnings of $1.14 per share, with EPS estimates ranging from $0.84 to $1.43. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Tallgrass Energy GP.

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Tallgrass Energy GP (NYSE:TEGP) last posted its quarterly earnings results on Tuesday, February 13th. The pipeline company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). The company had revenue of $174.77 million during the quarter, compared to analyst estimates of $187.26 million. Tallgrass Energy GP had a negative net margin of 19.63% and a positive return on equity of 2.43%.

Several research analysts have commented on TEGP shares. Zacks Investment Research raised Tallgrass Energy GP from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Thursday, April 5th. Credit Suisse Group started coverage on Tallgrass Energy GP in a research note on Thursday, January 4th. They set an “underperform” rating and a $21.00 target price for the company. Citigroup lowered their target price on Tallgrass Energy GP from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Robert W. Baird reissued a “buy” rating and set a $36.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, February 8th. Finally, TheStreet downgraded Tallgrass Energy GP from a “c-” rating to a “d” rating in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.64.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Tallgrass Energy GP by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after buying an additional 330 shares during the period. Glenmede Trust Co. NA boosted its holdings in Tallgrass Energy GP by 6.6% in 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 last quarter. California Public Employees Retirement System boosted its holdings in Tallgrass Energy GP by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 141,000 shares of the pipeline company’s stock valued at $3,629,000 after acquiring an additional 2,600 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in Tallgrass Energy GP by 7.9% in the fourth quarter. Cadence Capital Management LLC now owns 42,212 shares of the pipeline company’s stock valued at $1,087,000 after acquiring an additional 3,084 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in Tallgrass Energy GP by 28.8% in the fourth quarter. Brookstone Capital Management now owns 15,372 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 3,433 shares during the last quarter. 30.97% of the stock is owned by institutional investors.

NYSE TEGP traded up $0.05 during trading on Monday, hitting $20.36. 954,573 shares of the company’s stock were exchanged, compared to its average volume of 637,943. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 1.33. The company has a market cap of $3,753.17, a price-to-earnings ratio of 26.79 and a beta of 1.89. Tallgrass Energy GP has a fifty-two week low of $17.14 and a fifty-two week high of $28.94.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be paid a $0.488 dividend. The ex-dividend date is Friday, April 27th. This represents a $1.95 annualized dividend and a dividend yield of 9.59%. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.37. Tallgrass Energy GP’s dividend payout ratio is currently 193.42%.

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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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