Analysts Set Tallgrass Energy LP (TGE) Price Target at $25.29

Tallgrass Energy LP (NYSE:TGE) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $25.29.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Tallgrass Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. TheStreet raised shares of Tallgrass Energy from a “c” rating to a “b-” rating in a report on Thursday, April 4th. Goldman Sachs Group downgraded shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a research note on Tuesday, April 2nd. Finally, Credit Suisse Group downgraded shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $25.00 in a research note on Thursday, February 21st.

In other news, major shareholder Private Ltd Gic acquired 85,225 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $24.04 per share, for a total transaction of $2,048,809.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Raymond sold 46,386,232 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.52, for a total transaction of $487,983,160.64. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,973,906 shares of company stock valued at $47,613,357 and sold 46,405,689 shares valued at $488,446,299. Insiders own 28.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jackson Hole Capital Partners LLC increased its position in shares of Tallgrass Energy by 1.3% during the first quarter. Jackson Hole Capital Partners LLC now owns 56,825 shares of the company’s stock valued at $1,429,000 after buying an additional 716 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Tallgrass Energy by 14.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,734 shares of the company’s stock valued at $194,000 after buying an additional 985 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Tallgrass Energy during the first quarter valued at about $29,000. FTB Advisors Inc. purchased a new position in shares of Tallgrass Energy during the fourth quarter valued at about $30,000. Finally, Lindbrook Capital LLC purchased a new position in shares of Tallgrass Energy during the first quarter valued at about $38,000. Institutional investors own 49.03% of the company’s stock.

Shares of NYSE TGE traded up $0.10 during mid-day trading on Friday, reaching $24.21. 3,025 shares of the company were exchanged, compared to its average volume of 966,592. Tallgrass Energy has a 52 week low of $20.27 and a 52 week high of $26.35. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.71. The company has a market capitalization of $6.77 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.21 and a beta of 0.93.

Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.09). Tallgrass Energy had a return on equity of 7.62% and a net margin of 21.07%. The company had revenue of $197.35 million for the quarter, compared to the consensus estimate of $236.40 million. As a group, analysts forecast that Tallgrass Energy will post 1.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.53 dividend. The ex-dividend date was Monday, April 29th. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 8.76%. Tallgrass Energy’s payout ratio is currently 166.93%.

About Tallgrass Energy

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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Analyst Recommendations for Tallgrass Energy (NYSE:TGE)

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