Legal & General Group Plc Takes $112,000 Position in Tallgrass Energy LP (TGE)

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Legal & General Group Plc bought a new position in shares of Tallgrass Energy LP (NYSE:TGE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,596 shares of the company’s stock, valued at approximately $112,000.

Several other institutional investors have also recently bought and sold shares of TGE. Tortoise Capital Advisors L.L.C. bought a new position in shares of Tallgrass Energy during the 4th quarter worth approximately $584,470,000. Alps Advisors Inc. bought a new position in shares of Tallgrass Energy during the 4th quarter worth approximately $359,154,000. Kayne Anderson Capital Advisors LP bought a new position in shares of Tallgrass Energy during the 4th quarter worth approximately $214,734,000. Jennison Associates LLC bought a new position in shares of Tallgrass Energy during the 4th quarter worth approximately $91,357,000. Finally, RR Advisors LLC bought a new position in shares of Tallgrass Energy during the 4th quarter worth approximately $77,536,000. 49.78% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Gary D. Watkins sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $23.83, for a total transaction of $285,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Enagas U.S.A. Llc purchased 130,320 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were bought at an average price of $24.40 per share, with a total value of $3,179,808.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,750,006 shares of company stock valued at $42,212,889 and have sold 46,405,689 shares valued at $488,446,299. Company insiders own 28.59% of the company’s stock.

TGE has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Tallgrass Energy in a research report on Friday, January 11th. They set an “underperform” rating and a $22.00 target price on the stock. US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Zacks Investment Research raised shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Saturday, January 19th. Credit Suisse Group lowered shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Thursday, February 21st. Finally, Goldman Sachs Group lowered shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.38.

Shares of TGE stock opened at $23.82 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.45. Tallgrass Energy LP has a 12-month low of $19.59 and a 12-month high of $26.35. The company has a market cap of $6.65 billion, a PE ratio of 18.76 and a beta of 0.93.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Friday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.04). Tallgrass Energy had a return on equity of 6.15% and a net margin of 17.29%. The company had revenue of $220.26 million for the quarter, compared to analysts’ expectations of $210.60 million. Equities analysts forecast that Tallgrass Energy LP will post 1.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.12 annualized dividend and a dividend yield of 8.90%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.52. Tallgrass Energy’s dividend payout ratio (DPR) is presently 166.93%.

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Tallgrass Energy Company Profile

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, 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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Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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