Tortoise Capital Advisors L.L.C. Has $119.82 Million Stake in Tallgrass Energy GP LP (TEGP)

Tortoise Capital Advisors L.L.C. increased its position in Tallgrass Energy GP LP (NYSE:TEGP) by 37.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,407,201 shares of the pipeline company’s stock after buying an additional 1,475,290 shares during the period. Tallgrass Energy GP comprises 0.8% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 29th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 2.93% of Tallgrass Energy GP worth $119,824,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TEGP. Alps Advisors Inc. raised its position in shares of Tallgrass Energy GP by 9,099.2% in the second quarter. Alps Advisors Inc. now owns 4,432,263 shares of the pipeline company’s stock valued at $98,219,000 after buying an additional 4,384,082 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Tallgrass Energy GP by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 14,071,783 shares of the pipeline company’s stock valued at $267,646,000 after buying an additional 1,761,140 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Tallgrass Energy GP in the second quarter valued at approximately $12,849,000. Millennium Management LLC raised its position in shares of Tallgrass Energy GP by 59.5% in the first quarter. Millennium Management LLC now owns 984,650 shares of the pipeline company’s stock valued at $18,728,000 after buying an additional 367,235 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Tallgrass Energy GP by 425.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 422,750 shares of the pipeline company’s stock valued at $8,041,000 after buying an additional 342,260 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

In related news, insider David G. Dehaemers, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was purchased at an average price of $22.10 per share, with a total value of $221,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tallgrass Energy Holdings, Llc purchased 25,645 shares of the company’s stock in a transaction that occurred on Thursday, June 28th. The shares were bought at an average cost of $44.53 per share, with a total value of $1,141,971.85. The disclosure for this purchase can be found here.

TEGP stock remained flat at $$22.16 on Tuesday. Tallgrass Energy GP LP has a 52 week low of $17.14 and a 52 week high of $28.94. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $4.10 billion, a P/E ratio of 29.16 and a beta of 1.88.

A number of research firms have recently weighed in on TEGP. ValuEngine raised shares of Tallgrass Energy GP from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Citigroup boosted their price objective on shares of Tallgrass Energy GP from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 25th. Zacks Investment Research raised shares of Tallgrass Energy GP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, May 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Tallgrass Energy GP in a research report on Monday, May 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.14.

Tallgrass Energy GP Company Profile

Tallgrass Energy GP, 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 GP (NYSE:TEGP)

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