Royal Bank Of Canada Reaffirms Hold Rating for Tallgrass Energy GP, LP (NYSE:TEGP)

Royal Bank Of Canada reissued their hold rating on shares of Tallgrass Energy GP, LP (NYSE:TEGP) in a research report sent to investors on Monday, July 31st. They currently have a $30.00 price target on the pipeline company’s stock.

A number of other equities research analysts have also recently commented on the stock. Scotiabank set a $28.00 price objective on shares of Tallgrass Energy GP, and gave the stock a hold rating in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Tallgrass Energy GP, from a hold rating to a strong-buy rating and set a $28.00 price objective on the stock in a research note on Friday, June 16th. Mitsubishi UFJ Financial Group reaffirmed a neutral rating and set a $32.00 price objective on shares of Tallgrass Energy GP, in a research note on Thursday, April 20th. BidaskClub raised shares of Tallgrass Energy GP, from a sell rating to a hold rating in a research note on Thursday, July 6th. Finally, Macquarie initiated coverage on shares of Tallgrass Energy GP, in a research note on Friday, April 21st. They set an outperform rating and a $32.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $29.78.

Shares of Tallgrass Energy GP, (NYSE:TEGP) traded down 0.50% during mid-day trading on Monday, reaching $23.76. 144,773 shares of the company traded hands. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 35.15 and a beta of 2.17. Tallgrass Energy GP, has a 52 week low of $21.74 and a 52 week high of $29.50. The firm has a 50-day moving average price of $25.36 and a 200 day moving average price of $26.54.

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

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The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, July 28th were paid a $0.3425 dividend. The ex-dividend date was Wednesday, July 26th. This represents a $1.37 dividend on an annualized basis and a yield of 5.77%. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. Tallgrass Energy GP,’s dividend payout ratio (DPR) is currently 201.47%.

Large investors have recently made changes to their positions in the company. FMR LLC acquired a new stake in shares of Tallgrass Energy GP, during the fourth quarter valued at about $12,006,000. Bank of Montreal Can boosted its stake in shares of Tallgrass Energy GP, by 0.6% in the first quarter. Bank of Montreal Can now owns 22,158 shares of the pipeline company’s stock valued at $637,000 after buying an additional 126 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Tallgrass Energy GP, by 8.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,449 shares of the pipeline company’s stock valued at $531,000 after buying an additional 1,367 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Tallgrass Energy GP, by 14.4% in the first quarter. Wells Fargo & Company MN now owns 51,146 shares of the pipeline company’s stock valued at $1,471,000 after buying an additional 6,421 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Tallgrass Energy GP, by 1,480.2% in the first quarter. US Bancorp DE now owns 30,798 shares of the pipeline company’s stock valued at $886,000 after buying an additional 28,849 shares during the period. 99.71% of the stock is currently owned by institutional investors.

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