Piper Jaffray Companies assumed coverage on shares of Tallgrass Energy (NYSE:TGE) in a research report released on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $25.00 price target on the stock. Piper Jaffray Companies also issued estimates for Tallgrass Energy’s Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.34 EPS, Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.29 EPS, FY2020 earnings at $1.17 EPS and FY2021 earnings at $1.14 EPS.
Other research analysts also recently issued reports about the company. ValuEngine upgraded YPF from a sell rating to a hold rating in a report on Monday, June 24th. Citigroup began coverage on Tallgrass Energy in a report on Tuesday, June 25th. They set a buy rating and a $23.00 price objective on the stock. Goldman Sachs Group restated a buy rating and set a GBX 265 ($3.46) price objective on shares of Tesco in a report on Tuesday, April 2nd. TheStreet upgraded TELUS from a c+ rating to a b- rating in a report on Thursday, April 4th. Finally, Zacks Investment Research downgraded CGI from a buy rating to a hold rating in a report on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $24.89.
TGE opened at $21.53 on Wednesday. The business’s fifty day moving average price is $22.05. The stock has a market cap of $6.10 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.17 and a beta of 0.71. Tallgrass Energy has a 52 week low of $20.05 and a 52 week high of $26.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.71 and a quick ratio of 0.64.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a $0.54 dividend. The ex-dividend date is Tuesday, July 30th. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.03%. Tallgrass Energy’s dividend payout ratio (DPR) is currently 166.93%.
In related news, major shareholder Enagas U.S.A. Llc purchased 44,358 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $24.49 per share, for a total transaction of $1,086,327.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Private Ltd Gic purchased 89,984 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was bought at an average price of $24.46 per share, for a total transaction of $2,201,008.64. The disclosure for this purchase can be found here. Insiders bought a total of 1,065,800 shares of company stock worth $25,769,157 over the last quarter. Company insiders own 28.59% of the company’s stock.
Large investors have recently made changes to their positions in the company. Arlington Partners LLC purchased a new position in shares of Tallgrass Energy in the 2nd quarter valued at $32,000. Lindbrook Capital LLC purchased a new position in shares of Tallgrass Energy in the 1st quarter valued at $38,000. Bessemer Group Inc. purchased a new position in shares of Tallgrass Energy in the 4th quarter valued at $45,000. Avestar Capital LLC purchased a new position in shares of Tallgrass Energy in the 1st quarter valued at $52,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Tallgrass Energy in the 1st quarter valued at $78,000. Institutional investors and hedge funds own 56.38% of the company’s stock.
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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