Williams Jones & Associates LLC purchased a new stake in Tallgrass Energy LP (NYSE:TGE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,650 shares of the company’s stock, valued at approximately $293,000.
Several other institutional investors have also recently bought and sold shares of TGE. SG Americas Securities LLC bought a new position in Tallgrass Energy in the fourth quarter worth approximately $1,067,000. Securian Asset Management Inc bought a new position in Tallgrass Energy in the fourth quarter worth approximately $655,000. Pointe Capital Management LLC bought a new position in Tallgrass Energy in the fourth quarter worth approximately $703,000. Wiley BROS. Aintree Capital LLC bought a new position in Tallgrass Energy in the fourth quarter worth approximately $904,000. Finally, Jennison Associates LLC bought a new position in Tallgrass Energy in the fourth quarter worth approximately $91,357,000. 56.37% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on TGE shares. TheStreet upgraded Tallgrass Energy from a “c” rating to a “b-” rating in a report on Thursday, April 4th. Zacks Investment Research lowered Tallgrass Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Goldman Sachs Group lowered Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Tuesday, April 2nd. Finally, Credit Suisse Group lowered Tallgrass Energy from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $25.00 in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.38.
Shares of TGE stock traded down $0.62 during trading hours on Friday, reaching $21.85. The company had a trading volume of 521,861 shares, compared to its average volume of 784,328. Tallgrass Energy LP has a 12 month low of $20.36 and a 12 month high of $26.35. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.87.
Tallgrass Energy (NYSE:TGE) last posted its earnings results on Tuesday, May 7th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.09). Tallgrass Energy had a net margin of 21.07% and a return on equity of 7.62%. The company had revenue of $197.35 million during the quarter, compared to the consensus estimate of $236.40 million. On average, equities research analysts anticipate that Tallgrass Energy LP will post 1.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 9.70%. The ex-dividend date of this dividend was Monday, April 29th. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.52. Tallgrass Energy’s dividend payout ratio (DPR) is currently 166.93%.
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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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