Insider Buying: Tallgrass Energy LP (TGE) Insider Acquires 16,777 Shares of Stock

Tallgrass Energy LP (NYSE:TGE) insider David G. Dehaemers, Jr. bought 16,777 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average price of $21.24 per share, with a total value of $356,343.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NYSE:TGE opened at $21.61 on Friday. Tallgrass Energy LP has a 12-month low of $17.14 and a 12-month high of $27.84. The company has a quick ratio of 0.60, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $6.06 billion, a P/E ratio of 28.43 and a beta of 1.91.

Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.36). Tallgrass Energy had a negative net margin of 18.21% and a positive return on equity of 2.03%. The business had revenue of $193.59 million during the quarter, compared to analyst estimates of $200.50 million. Equities research analysts predict that Tallgrass Energy LP will post 1.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be paid a $0.51 dividend. The ex-dividend date is Tuesday, October 30th. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 9.44%. Tallgrass Energy’s dividend payout ratio (DPR) is currently 268.42%.

Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. acquired a new stake in Tallgrass Energy in the second quarter valued at $1,535,000. Eagle Ridge Investment Management acquired a new stake in Tallgrass Energy in the second quarter valued at $232,000. Walnut Private Equity Partners LLC acquired a new stake in Tallgrass Energy in the second quarter valued at $1,611,000. BNP Paribas Arbitrage SA acquired a new stake in Tallgrass Energy in the second quarter valued at $115,000. Finally, Bank of Montreal Can acquired a new stake in Tallgrass Energy in the second quarter valued at $186,000. Institutional investors own 24.27% of the company’s stock.

A number of research firms recently issued reports on TGE. TheStreet upgraded Tallgrass Energy from a “d+” rating to a “c-” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Tallgrass Energy from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, October 23rd. US Capital Advisors reiterated a “hold” rating on shares of Tallgrass Energy in a report on Tuesday, July 17th. ValuEngine upgraded Tallgrass Energy from a “hold” rating to a “buy” rating in a report on Monday, August 20th. Finally, Barclays began coverage on Tallgrass Energy in a report on Thursday, August 16th. They issued an “equal weight” rating and a $26.00 target price for the company. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.86.

About Tallgrass Energy

Tallgrass Energy, 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.

Recommended Story: Discount Rate

Receive News & Ratings for Tallgrass Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply