Tallgrass Energy GP, LP (TEGP) Receives Consensus Rating of “Hold” from Analysts

Shares of Tallgrass Energy GP, LP (NYSE:TEGP) have received an average recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.13.

A number of research analysts recently commented on the stock. Robert W. Baird reiterated a “buy” rating and issued a $32.00 price target on shares of Tallgrass Energy GP in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 21st. Barclays reiterated a “buy” rating and issued a $34.00 price target on shares of Tallgrass Energy GP in a research note on Thursday, October 19th. BidaskClub downgraded shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price objective on shares of Tallgrass Energy GP in a report on Sunday, October 29th.

In other news, Director Thomas A. Gerke purchased 9,800 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $25.50 per share, with a total value of $249,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David G. Dehaemers, Jr. purchased 5,428 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $25.04 per share, with a total value of $135,917.12. The disclosure for this purchase can be found here.

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Tallgrass Energy GP by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 330 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Tallgrass Energy GP by 816.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after acquiring an additional 5,554 shares during the period. Summit Asset Management LLC bought a new stake in shares of Tallgrass Energy GP during the 3rd quarter worth approximately $215,000. BlueCrest Capital Management Ltd bought a new stake in shares of Tallgrass Energy GP during the 2nd quarter worth approximately $219,000. Finally, Brookstone Capital Management bought a new stake in shares of Tallgrass Energy GP during the 2nd quarter worth approximately $309,000. 36.31% of the stock is owned by institutional investors.

Tallgrass Energy GP (NYSE TEGP) opened at $24.23 on Friday. Tallgrass Energy GP has a 52 week low of $21.79 and a 52 week high of $29.50. The company has a market cap of $3,740.49, a PE ratio of 29.74, a P/E/G ratio of 3.04 and a beta of 1.97. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18.

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