Insider Buying: Tallgrass Energy GP, LP (TEGP) Director Purchases $249,900.00 in Stock

Tallgrass Energy GP, LP (NYSE:TEGP) Director Thomas A. Gerke bought 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $25.50 per share, with a total value of $249,900.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tallgrass Energy GP, LP (NYSE:TEGP) opened at $24.83 on Friday. The stock has a market capitalization of $3,904.00, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 3.17 and a beta of 2.08. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18. Tallgrass Energy GP, LP has a fifty-two week low of $21.87 and a fifty-two week high of $29.50.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a $0.355 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.42 annualized dividend and a yield of 5.72%. This is a positive change from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. Tallgrass Energy GP,’s dividend payout ratio is presently 171.25%.

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Several hedge funds have recently bought and sold shares of the company. Harvest Fund Advisors LLC lifted its holdings in shares of Tallgrass Energy GP, by 82.2% in the third quarter. Harvest Fund Advisors LLC now owns 3,266,244 shares of the pipeline company’s stock valued at $92,271,000 after purchasing an additional 1,473,761 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Tallgrass Energy GP, by 2.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,122,785 shares of the pipeline company’s stock valued at $79,412,000 after purchasing an additional 83,522 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tallgrass Energy GP, by 3.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,236,899 shares of the pipeline company’s stock valued at $34,942,000 after purchasing an additional 36,683 shares in the last quarter. Atlantic Trust Group LLC lifted its holdings in shares of Tallgrass Energy GP, by 15.5% in the second quarter. Atlantic Trust Group LLC now owns 898,248 shares of the pipeline company’s stock valued at $22,843,000 after purchasing an additional 120,352 shares in the last quarter. Finally, Dividend Assets Capital LLC lifted its holdings in shares of Tallgrass Energy GP, by 0.7% in the third quarter. Dividend Assets Capital LLC now owns 750,564 shares of the pipeline company’s stock valued at $21,203,000 after purchasing an additional 5,188 shares in the last quarter. Institutional investors own 37.17% of the company’s stock.

Several research firms recently commented on TEGP. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 target price on shares of Tallgrass Energy GP, in a research note on Friday, August 18th. Zacks Investment Research cut Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Robert W. Baird reaffirmed a “buy” rating and set a $32.00 target price on shares of Tallgrass Energy GP, in a research note on Tuesday, September 26th. Barclays PLC raised their target price on Tallgrass Energy GP, from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, BidaskClub raised Tallgrass Energy GP, from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.11.

About Tallgrass Energy GP,

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