Tallgrass Energy GP (NYSE:TEGP) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $25.00 price target on the pipeline company’s stock, down from their previous price target of $30.00. Barclays’ price target suggests a potential upside of 11.91% from the stock’s current price.
Several other research firms have also weighed in on TEGP. BidaskClub lowered Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Credit Suisse Group assumed coverage on Tallgrass Energy GP in a research note on Thursday, January 4th. They set an “underperform” rating and a $21.00 price objective for the company. Zacks Investment Research lowered Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price objective on shares of Tallgrass Energy GP in a research note on Sunday, October 29th. Finally, Robert W. Baird reissued a “buy” rating and set a $32.00 price objective on shares of Tallgrass Energy GP in a research note on Wednesday, November 1st. 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. The company currently has an average rating of “Hold” and an average target price of $29.89.
Tallgrass Energy GP (TEGP) traded down $0.44 on Monday, hitting $22.34. The stock had a trading volume of 508,199 shares, compared to its average volume of 411,237. The company has a market cap of $3,581.69, a price-to-earnings ratio of 28.48, a PEG ratio of 2.74 and a beta of 1.75. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18. Tallgrass Energy GP has a 1-year low of $21.66 and a 1-year high of $29.50.
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Tallgrass Energy GP Company Profile
Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.
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