Stifel Nicolaus Reaffirms Buy Rating for Tallgrass Energy GP, LP (TEGP)

Stifel Nicolaus reaffirmed their buy rating on shares of Tallgrass Energy GP, LP (NYSE:TEGP) in a report issued on Friday, July 14th. They currently have a $31.00 price objective on the pipeline company’s stock.

Several other brokerages have also commented on TEGP. Zacks Investment Research upgraded shares of Tallgrass Energy GP, from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a research note on Thursday, April 13th. Mitsubishi UFJ Financial Group restated a neutral rating and set a $32.00 target price on shares of Tallgrass Energy GP, in a research report on Thursday, April 20th. Macquarie started coverage on shares of Tallgrass Energy GP, in a research report on Friday, April 21st. They set an outperform rating and a $32.00 target price on the stock. Royal Bank Of Canada restated a hold rating and set a $30.00 target price on shares of Tallgrass Energy GP, in a research report on Friday, March 17th. Finally, Scotiabank restated a hold rating and set a $28.00 target price on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $29.78.

Shares of Tallgrass Energy GP, (TEGP) opened at 24.21 on Friday. The firm has a 50-day moving average of $25.37 and a 200 day moving average of $26.66. Tallgrass Energy GP, has a 1-year low of $21.74 and a 1-year high of $29.50. The company has a market capitalization of $1.41 billion, a P/E ratio of 35.81 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.08. The firm had revenue of $160.86 million during the quarter, compared to analyst estimates of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. On average, analysts anticipate that Tallgrass Energy GP, will post $0.94 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, July 28th will be paid a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Wednesday, July 26th. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. Tallgrass Energy GP,’s payout ratio is 201.47%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEGP. BNP Paribas Arbitrage SA purchased a new position in shares of Tallgrass Energy GP, during the first quarter valued at $115,000. SG Americas Securities LLC purchased a new position in shares of Tallgrass Energy GP, during the first quarter valued at $119,000. Summit Asset Management LLC purchased a new position in shares of Tallgrass Energy GP, during the first quarter valued at $201,000. HITE Hedge Asset Management LLC purchased a new position in shares of Tallgrass Energy GP, during the fourth quarter valued at $221,000. Finally, Proficio Capital Partners LLC increased its position in shares of Tallgrass Energy GP, by 18.5% in the second quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock valued at $235,000 after buying an additional 1,428 shares during the last quarter.

Tallgrass Energy GP, Company Profile

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