Tallgrass Energy LP (NYSE:TGE) Director Jeffrey A. Ball purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $21.41 per share, with a total value of $535,250.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of TGE stock opened at $21.61 on Friday. Tallgrass Energy LP has a one year low of $17.14 and a one year high of $27.84. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 1.37. The company has a market cap of $6.05 billion, a P/E ratio of 26.35 and a beta of 1.73.
Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). Tallgrass Energy had a positive return on equity of 4.03% and a negative net margin of 11.77%. The company had revenue of $193.59 million for the quarter, compared to analyst estimates of $200.50 million. Research analysts anticipate that Tallgrass Energy LP will post 1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be given a dividend of $0.51 per share. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, October 30th. This represents a $2.04 annualized dividend and a yield of 9.44%. Tallgrass Energy’s dividend payout ratio is 268.42%.
Several institutional investors have recently added to or reduced their stakes in TGE. BNP Paribas Arbitrage SA acquired a new stake in shares of Tallgrass Energy in the second quarter worth $115,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Tallgrass Energy in the second quarter worth $173,000. Bank of Montreal Can acquired a new stake in shares of Tallgrass Energy in the second quarter worth $186,000. Eagle Ridge Investment Management acquired a new stake in shares of Tallgrass Energy in the second quarter worth $232,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Tallgrass Energy in the second quarter worth $275,000. 24.27% of the stock is owned by institutional investors.
Several equities analysts recently commented on TGE shares. Zacks Investment Research lowered shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Goldman Sachs Group started coverage on shares of Tallgrass Energy in a research report on Monday, October 8th. They set a “buy” rating and a $27.00 price target for the company. Citigroup upped their price target on shares of Tallgrass Energy from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Credit Suisse Group started coverage on shares of Tallgrass Energy in a research report on Thursday, October 11th. They set an “outperform” rating and a $29.00 price target for the company. Finally, ValuEngine lowered shares of Tallgrass Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tallgrass Energy presently has a consensus rating of “Hold” and a consensus target price of $26.86.
Tallgrass Energy Company Profile
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.
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