Bank of America initiated coverage on shares of Tallgrass Energy (NYSE:TGE) in a research report report published on Friday, MarketBeat Ratings reports. The firm issued an underperform rating and a $22.00 price objective on the stock.
A number of other research firms also recently issued reports on TGE. Credit Suisse Group assumed coverage on Tallgrass Energy in a report on Thursday, October 11th. They issued an outperform rating and a $29.00 price objective for the company. Zacks Investment Research downgraded Tallgrass Energy from a buy rating to a hold rating in a report on Wednesday, October 24th. Goldman Sachs Group initiated coverage on Tallgrass Energy in a report on Monday, October 8th. They set a buy rating and a $27.00 price target for the company. Citigroup lifted their price objective on Tallgrass Energy from $24.00 to $27.00 and gave the stock a buy rating in a report on Tuesday, September 25th. Finally, Morgan Stanley reduced their price objective on Tallgrass Energy from $26.00 to $25.00 and set an equal weight rating for the company in a report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Tallgrass Energy has an average rating of Hold and a consensus target price of $25.88.
Shares of TGE opened at $23.18 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.37. The firm has a market cap of $6.49 billion, a P/E ratio of 30.50 and a beta of 1.09. Tallgrass Energy has a 12 month low of $17.14 and a 12 month high of $26.70.
In related news, insider David G. Dehaemers, Jr. acquired 20,000 shares of the stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average cost of $20.52 per share, with a total value of $410,400.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David G. Dehaemers, Jr. acquired 16,777 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $21.24 per share, for a total transaction of $356,343.48. The disclosure for this purchase can be found here. Insiders acquired 61,777 shares of company stock worth $1,301,993 over the last three months. Insiders own 28.59% of the company’s stock.
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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