Tallgrass Energy GP, LP (TEGP) Lowered to “Sell” at Zacks Investment Research

Tallgrass Energy GP, LP (NYSE:TEGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 8th.

According to Zacks, “Tallgrass Energy GP, LP is a limited partnership company. The company is engaged in the transportation, storage and processing of natural gas, the transportation of crude oil and the provision of water business services primarily to the oil and gas exploration and production industry through its subsidiary. Tallgrass Energy GP, LP is based in LEAWOOD, United States. “

TEGP has been the topic of several other reports. TheStreet raised Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Scotiabank set a $28.00 target price on shares of Tallgrass Energy GP, and gave the stock a “hold” rating in a research note on Saturday, July 22nd. BidaskClub raised shares of Tallgrass Energy GP, from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “hold” rating and set a $30.00 target price on shares of Tallgrass Energy GP, in a research note on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating and set a $32.00 target price on shares of Tallgrass Energy GP, in a research note on Thursday, April 20th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $29.78.

Tallgrass Energy GP, (NYSE TEGP) traded down 0.50% during trading on Tuesday, reaching $23.76. The company had a trading volume of 144,773 shares. The firm has a market capitalization of $1.38 billion, a P/E ratio of 35.15 and a beta of 2.17. The stock has a 50 day moving average price of $25.36 and a 200 day moving average price of $26.54. Tallgrass Energy GP, has a 52 week low of $21.74 and a 52 week high of $29.50.

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

WARNING: “Tallgrass Energy GP, LP (TEGP) Lowered to “Sell” at Zacks Investment Research” was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.com-unik.info/2017/08/19/tallgrass-energy-gp-lp-tegp-downgraded-by-zacks-investment-research-to-sell-updated.html.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP raised its position in shares of Tallgrass Energy GP, by 4.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 5,691,172 shares of the pipeline company’s stock worth $163,663,000 after buying an additional 261,453 shares in the last quarter. Atlantic Trust Group LLC raised its position in shares of Tallgrass Energy GP, by 35.0% in the first quarter. Atlantic Trust Group LLC now owns 777,896 shares of the pipeline company’s stock worth $22,372,000 after buying an additional 201,803 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Tallgrass Energy GP, by 630.2% in the first quarter. Renaissance Technologies LLC now owns 204,645 shares of the pipeline company’s stock worth $5,886,000 after buying an additional 176,619 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Tallgrass Energy GP, by 67.3% in the second quarter. Global X Management Co. LLC now owns 409,973 shares of the pipeline company’s stock worth $10,426,000 after buying an additional 164,963 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of 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 in the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

About Tallgrass Energy GP,

Get a free copy of the Zacks research report on Tallgrass Energy GP, (TEGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tallgrass Energy GP, (NYSE:TEGP)

What are top analysts saying about Tallgrass Energy GP LP? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Tallgrass Energy GP LP and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit