Brokerages predict that Tallgrass Energy GP LP (NYSE:TEGP) will report earnings per share of $0.23 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Tallgrass Energy GP’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.17. Tallgrass Energy GP reported earnings per share of $0.21 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Tallgrass Energy GP will report full-year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $0.91 to $1.24. For the next year, analysts forecast that the business will report earnings of $1.14 per share, with EPS estimates ranging from $0.84 to $1.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Tallgrass Energy GP.
Tallgrass Energy GP (NYSE:TEGP) last released its earnings results on Tuesday, February 13th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.08). The firm had revenue of $174.77 million during the quarter, compared to the consensus estimate of $187.26 million. Tallgrass Energy GP had a positive return on equity of 2.43% and a negative net margin of 19.63%.
A number of brokerages recently weighed in on TEGP. Stifel Nicolaus set a $26.00 price objective on shares of Tallgrass Energy GP and gave the company a “buy” rating in a report on Thursday, February 8th. Robert W. Baird reiterated a “buy” rating and set a $35.00 price objective on shares of Tallgrass Energy GP in a report on Friday, February 16th. TheStreet lowered shares of Tallgrass Energy GP from a “c-” rating to a “d” rating in a report on Wednesday, February 14th. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Thursday, April 5th. Finally, ValuEngine lowered shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.64.
Shares of Tallgrass Energy GP stock traded up $1.02 during trading on Monday, hitting $21.38. The stock had a trading volume of 644,726 shares, compared to its average volume of 514,848. The firm has a market capitalization of $3,762.41, a PE ratio of 27.78 and a beta of 1.89. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 1.33. Tallgrass Energy GP has a 12 month low of $17.14 and a 12 month high of $28.94.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be given a dividend of $0.488 per share. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.95 dividend on an annualized basis and a yield of 9.13%. Tallgrass Energy GP’s dividend payout ratio (DPR) is 193.42%.
A number of hedge funds and other institutional investors have recently bought and sold shares of TEGP. The Manufacturers Life Insurance Company increased its position in Tallgrass Energy GP by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 330 shares during the period. HBK Investments L P purchased a new position in Tallgrass Energy GP during the 4th quarter valued at about $206,000. Geode Capital Management LLC purchased a new position in Tallgrass Energy GP during the 4th quarter valued at about $225,000. Amundi Pioneer Asset Management Inc. purchased a new position in Tallgrass Energy GP during the 4th quarter valued at about $278,000. Finally, SG Americas Securities LLC purchased a new position in Tallgrass Energy GP during the 4th quarter valued at about $283,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.
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Tallgrass Energy GP Company Profile
Tallgrass Energy GP, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, 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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