Prime Capital Investment Advisors LLC purchased a new stake in Tallgrass Energy LP (NYSE:TGE) during the 1st quarter, HoldingsChannel reports. The firm purchased 4,400 shares of the company’s stock, valued at approximately $111,000.
Several other hedge funds have also added to or reduced their stakes in the company. FTB Advisors Inc. acquired a new stake in shares of Tallgrass Energy in the fourth quarter valued at approximately $30,000. Ffcm LLC acquired a new stake in shares of Tallgrass Energy in the fourth quarter valued at approximately $38,000. Bessemer Group Inc. acquired a new stake in shares of Tallgrass Energy in the fourth quarter valued at approximately $45,000. Wiley BROS. Aintree Capital LLC grew its position in shares of Tallgrass Energy by 5.4% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 39,143 shares of the company’s stock valued at $984,000 after purchasing an additional 2,014 shares during the last quarter. Finally, Rare Infrastructure Ltd acquired a new stake in Tallgrass Energy during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 49.93% of the company’s stock.
Shares of NYSE TGE opened at $24.56 on Wednesday. Tallgrass Energy LP has a 1 year low of $19.59 and a 1 year high of $26.35. The company has a market cap of $6.88 billion, a P/E ratio of 19.34 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.45.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, April 29th. This represents a $2.12 dividend on an annualized basis and a yield of 8.63%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.52. Tallgrass Energy’s dividend payout ratio (DPR) is 163.78%.
TGE has been the topic of a number of analyst reports. Bank of America initiated coverage on shares of Tallgrass Energy in a research report on Friday, January 11th. They set an “underperform” rating and a $22.00 target price on the stock. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Zacks Investment Research upgraded shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Saturday, January 19th. Credit Suisse Group lowered shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $25.00 in a research report on Thursday, February 21st. Finally, Goldman Sachs Group lowered shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $25.38.
In other Tallgrass Energy news, insider Gary D. Watkins sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $23.83, for a total transaction of $285,960.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Infrastructure Asso Blackstone purchased 79,534 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $24.49 per share, for a total transaction of $1,947,787.66. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 777,786 shares of company stock worth $18,664,392 and have sold 46,405,689 shares worth $488,446,299. 28.59% of the stock is currently owned by company insiders.
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Tallgrass Energy Profile
Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, 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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