Tallgrass Energy GP LP (TEGP) Holdings Raised by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Tallgrass Energy GP LP (NYSE:TEGP) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,628,511 shares of the pipeline company’s stock after acquiring an additional 27,580 shares during the quarter. Jennison Associates LLC owned about 1.67% of Tallgrass Energy GP worth $67,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. boosted its position in Tallgrass Energy GP by 5.8% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,303,355 shares of the pipeline company’s stock valued at $93,320,000 after acquiring an additional 180,570 shares during the last quarter. Harvest Fund Advisors LLC boosted its position in Tallgrass Energy GP by 82.2% during 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 acquiring an additional 1,473,761 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Tallgrass Energy GP by 3.1% during 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 acquiring an additional 36,683 shares during the last quarter. Dividend Assets Capital LLC boosted its position in Tallgrass Energy GP by 0.7% during the third quarter. Dividend Assets Capital LLC now owns 750,564 shares of the pipeline company’s stock valued at $21,203,000 after acquiring an additional 5,188 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC boosted its position in Tallgrass Energy GP by 28.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 528,568 shares of the pipeline company’s stock valued at $14,932,000 after acquiring an additional 118,595 shares during the last quarter. 36.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Tallgrass Energy GP LP (NYSE:TEGP) opened at $22.56 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.55 and a quick ratio of 0.50. Tallgrass Energy GP LP has a fifty-two week low of $21.66 and a fifty-two week high of $29.50. The firm has a market cap of $3,581.69, a PE ratio of 28.20, a P/E/G ratio of 2.74 and a beta of 1.75.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date is Tuesday, January 30th. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.36. Tallgrass Energy GP’s dividend payout ratio is currently 183.75%.

TEGP has been the topic of several research reports. BidaskClub lowered shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Zacks Investment Research lowered shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Morgan Stanley dropped their price objective on shares of Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Credit Suisse Group initiated coverage on shares of Tallgrass Energy GP in a report on Thursday, January 4th. They set an “underperform” rating and a $21.00 price objective on the stock. Finally, Robert W. Baird reiterated a “buy” rating and set a $33.00 price objective on shares of Tallgrass Energy GP in a report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.78.

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About Tallgrass Energy GP

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

Institutional Ownership by Quarter for Tallgrass Energy GP (NYSE:TEGP)

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