Tallgrass Energy GP (TEGP) Stock Rating Lowered by Barclays

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.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEGP. Wells Fargo & Company MN lifted its holdings in shares of Tallgrass Energy GP by 117.2% in the second quarter. Wells Fargo & Company MN now owns 111,071 shares of the pipeline company’s stock valued at $2,825,000 after purchasing an additional 59,925 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tallgrass Energy GP by 2.2% in the second quarter. Vanguard Group Inc. now owns 194,481 shares of the pipeline company’s stock valued at $4,946,000 after purchasing an additional 4,099 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Tallgrass Energy GP by 2.2% in the second quarter. California Public Employees Retirement System now owns 136,700 shares of the pipeline company’s stock valued at $3,476,000 after purchasing an additional 3,000 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Tallgrass Energy GP in the second quarter valued at $325,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Tallgrass Energy GP by 5.1% in the second quarter. Goldman Sachs Group Inc. now owns 163,071 shares of the pipeline company’s stock valued at $4,147,000 after purchasing an additional 7,985 shares in the last quarter. Institutional investors own 36.25% of the company’s stock.

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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.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

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