Tallgrass Energy GP, LP (TEGP) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Tallgrass Energy GP, LP (NYSE:TEGP) in a research note published on Friday morning. They currently have a $31.00 price objective on the pipeline company’s stock.

TEGP has been the topic of a number of other reports. TheStreet upgraded shares of Tallgrass Energy GP, from an e+ rating to a c rating in a research note on Wednesday, May 17th. BidaskClub upgraded shares of Tallgrass Energy GP, from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of Tallgrass Energy GP, from a hold rating to a strong-buy rating and set a $33.00 price objective on the stock in a research note on Thursday, April 13th. Mitsubishi UFJ Financial Group reiterated a neutral rating and set a $32.00 price objective on shares of Tallgrass Energy GP, in a research note on Thursday, April 20th. Finally, Scotiabank reiterated a hold rating and set a $28.00 price objective on shares of Tallgrass Energy GP, in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Tallgrass Energy GP, has an average rating of Hold and a consensus price target of $28.90.

Tallgrass Energy GP, (TEGP) traded up 0.11% during midday trading on Friday, hitting $26.50. 192,426 shares of the stock traded hands. Tallgrass Energy GP, has a one year low of $21.74 and a one year high of $29.50. The company has a market cap of $1.54 billion, a PE ratio of 43.66 and a beta of 2.17. The company’s 50-day moving average is $25.22 and its 200-day moving average is $26.78.

Tallgrass Energy GP, (NYSE:TEGP) last posted its quarterly earnings data on Wednesday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. Tallgrass Energy GP, had a net margin of 5.17% and a return on equity of 1.69%. The firm had revenue of $144.40 million for the quarter, compared to the consensus estimate of $165.67 million. Equities research analysts expect that Tallgrass Energy GP, will post $0.92 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, July 28th will be given a $0.3425 dividend. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Wednesday, July 26th. Tallgrass Energy GP,’s dividend payout ratio (DPR) is presently 191.67%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL increased its position in Tallgrass Energy GP, by 211.1% in the first quarter. Virginia Retirement Systems ET AL now owns 23,640 shares of the pipeline company’s stock worth $680,000 after buying an additional 16,040 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Tallgrass Energy GP, by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,165,562 shares of the pipeline company’s stock worth $33,522,000 after buying an additional 110,370 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in Tallgrass Energy GP, by 973.5% in the first quarter. HITE Hedge Asset Management LLC now owns 88,574 shares of the pipeline company’s stock worth $2,547,000 after buying an additional 80,323 shares during the last quarter. Swiss National Bank increased its position in Tallgrass Energy GP, by 3.6% in the first quarter. Swiss National Bank now owns 86,100 shares of the pipeline company’s stock worth $2,476,000 after buying an additional 3,000 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its position in Tallgrass Energy GP, by 23.7% in the first quarter. Texas Yale Capital Corp. now owns 11,750 shares of the pipeline company’s stock worth $338,000 after buying an additional 2,250 shares during the last quarter.

Tallgrass Energy GP, Company Profile

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