US Capital Advisors Weighs in on Tallgrass Energy GP’s Q2 2018 Earnings (TEGP)

Tallgrass Energy GP (NYSE:TEGP) – Equities research analysts at US Capital Advisors issued their Q2 2018 EPS estimates for shares of Tallgrass Energy GP in a research note issued on Monday, May 14th. US Capital Advisors analyst J. Carreker anticipates that the pipeline company will earn $0.40 per share for the quarter. US Capital Advisors also issued estimates for Tallgrass Energy GP’s Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.40 EPS, FY2019 earnings at $1.74 EPS and FY2020 earnings at $1.14 EPS.

A number of other analysts have also weighed in on TEGP. Robert W. Baird restated a “buy” rating and issued a $36.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, February 8th. Stifel Nicolaus set a $26.00 target price on Tallgrass Energy GP and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays lowered Tallgrass Energy GP from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $30.00 to $25.00 in a research note on Monday, February 12th. Zacks Investment Research lowered Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 14th. Finally, TheStreet lowered Tallgrass Energy GP from a “c-” rating to a “d” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.22.

Shares of NYSE:TEGP opened at $20.97 on Wednesday. Tallgrass Energy GP has a twelve month low of $20.88 and a twelve month high of $21.08. The firm has a market capitalization of $3.96 billion, a PE ratio of 27.59 and a beta of 1.87. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.63 and a quick ratio of 0.52.

Tallgrass Energy GP (NYSE:TEGP) last announced its earnings results on Thursday, May 3rd. The pipeline company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. Tallgrass Energy GP had a positive return on equity of 2.54% and a negative net margin of 17.96%. The company had revenue of $179.09 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were given a $0.488 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 9.31%. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, April 27th. Tallgrass Energy GP’s dividend payout ratio (DPR) is presently 256.58%.

In other news, insider David G. Dehaemers, Jr. acquired 47,500 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average cost of $20.29 per share, for a total transaction of $963,775.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Ball acquired 15,000 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average price of $20.26 per share, with a total value of $303,900.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $709,100. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the stock. HBK Investments L P acquired a new stake in Tallgrass Energy GP in the fourth quarter worth about $206,000. Geode Capital Management LLC acquired a new stake in Tallgrass Energy GP in the fourth quarter worth about $225,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Tallgrass Energy GP in the fourth quarter worth about $278,000. SG Americas Securities LLC acquired a new stake in Tallgrass Energy GP in the fourth quarter worth about $283,000. Finally, Mariner LLC acquired a new stake in Tallgrass Energy GP in the first quarter worth about $214,000. Hedge funds and other institutional investors own 30.89% of the company’s stock.

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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