Oppenheimer Asset Management Inc. Acquires New Stake in Tallgrass Energy LP (TGE)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Tallgrass Energy LP (NYSE:TGE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,953 shares of the company’s stock, valued at approximately $534,000.

Separately, Private Capital Group LLC purchased a new stake in shares of Tallgrass Energy during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 49.98% of the company’s stock.

Shares of NYSE:TGE opened at $22.92 on Wednesday. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 18.05 and a beta of 0.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.66 and a current ratio of 0.73. Tallgrass Energy LP has a 52-week low of $17.14 and a 52-week high of $26.35.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 9.08%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, January 30th. Tallgrass Energy’s dividend payout ratio (DPR) is presently 163.78%.

In other news, insider David G. Dehaemers, Jr. bought 20,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were acquired at an average cost of $20.52 per share, with a total value of $410,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.59% of the company’s stock.

TGE has been the topic of several research reports. Zacks Investment Research cut Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Bank of America initiated coverage on Tallgrass Energy in a research report on Friday, January 11th. They issued an “underperform” rating and a $22.00 target price on the stock. Finally, Morgan Stanley dropped their target price on Tallgrass Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.00.

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About Tallgrass Energy

Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.

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Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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