Tallgrass Energy GP (TEGP) Hits New 52-Week Low at $21.27

Tallgrass Energy GP LP (NYSE:TEGP)’s share price reached a new 52-week low on Thursday . The stock traded as low as $21.27 and last traded at $21.22, with a volume of 116931 shares trading hands. The stock had previously closed at $21.40.

Several research firms recently weighed in on TEGP. Robert W. Baird reaffirmed a “buy” rating and set a $35.00 target price on shares of Tallgrass Energy GP in a research note on Friday, February 16th. TheStreet cut shares of Tallgrass Energy GP from a “c-” rating to a “d” rating in a research note on Wednesday, February 14th. Zacks Investment Research cut shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 14th. Stifel Nicolaus set a $25.00 target price on shares of Tallgrass Energy GP and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Barclays cut shares of Tallgrass Energy GP from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $30.00 to $25.00 in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.56.

The firm has a market capitalization of $3,834.48, a P/E ratio of 27.30, a P/E/G ratio of 2.52 and a beta of 1.76. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.61 and a quick ratio of 0.52.

Tallgrass Energy GP (NYSE:TEGP) last issued its quarterly earnings data on Tuesday, February 13th. The pipeline company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). Tallgrass Energy GP had a positive return on equity of 2.43% and a negative net margin of 19.63%. The business had revenue of $174.77 million during the quarter, compared to analysts’ expectations of $187.26 million. equities analysts anticipate that Tallgrass Energy GP LP will post 0.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a $0.3675 dividend. This is a boost from Tallgrass Energy GP’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend was Tuesday, January 30th. Tallgrass Energy GP’s dividend payout ratio (DPR) is presently -66.22%.

Several large investors have recently modified their holdings of the business. Yorkville Capital Management LLC grew its stake in shares of Tallgrass Energy GP by 66.0% in the 4th quarter. Yorkville Capital Management LLC now owns 31,721 shares of the pipeline company’s stock worth $816,000 after buying an additional 12,608 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Tallgrass Energy GP by 6.6% in the 4th quarter. Glenmede Trust Co. NA now owns 40,445 shares of the pipeline company’s stock worth $1,041,000 after buying an additional 2,498 shares in the last quarter. Millennium Management LLC grew its stake in shares of Tallgrass Energy GP by 121.7% in the 4th quarter. Millennium Management LLC now owns 617,415 shares of the pipeline company’s stock worth $15,892,000 after buying an additional 338,926 shares in the last quarter. Raymond James & Associates grew its stake in shares of Tallgrass Energy GP by 22.6% in the 4th quarter. Raymond James & Associates now owns 107,451 shares of the pipeline company’s stock worth $2,766,000 after buying an additional 19,785 shares in the last quarter. Finally, HBK Investments L P purchased a new position in shares of Tallgrass Energy GP in the 4th quarter worth $206,000. 35.81% of the stock is owned by institutional investors and hedge funds.

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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.

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