Tallgrass Energy GP LP (NYSE:TEGP) was upgraded by stock analysts at TheStreet from an “e+” rating to a “c” rating in a research report issued on Wednesday.

A number of other analysts have also recently commented on TEGP. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “sell” rating to a “hold” rating in a report on Friday, February 24th. Royal Bank of Canada restated a “hold” rating and set a $30.00 target price on shares of Tallgrass Energy GP in a report on Friday, March 17th. Scotiabank restated a “hold” rating and set a $28.00 target price on shares of Tallgrass Energy GP in a report on Thursday, April 27th. Mitsubishi UFJ Financial Group restated a “neutral” rating and set a $32.00 target price on shares of Tallgrass Energy GP in a report on Thursday, April 20th. Finally, Stifel Nicolaus upgraded shares of Tallgrass Energy GP from a “hold” rating to a “buy” rating in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.89.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

Shares of Tallgrass Energy GP (NYSE:TEGP) traded up 2.60% on Wednesday, reaching $27.24. 67,418 shares of the company traded hands. The stock’s 50 day moving average price is $27.77 and its 200-day moving average price is $26.61. Tallgrass Energy GP has a one year low of $20.38 and a one year high of $29.50. The stock has a market capitalization of $1.58 billion, a P/E ratio of 44.88 and a beta of 2.21.

Tallgrass Energy GP (NYSE:TEGP) last issued its quarterly earnings data on Wednesday, May 3rd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The business had revenue of $144.40 million for the quarter, compared to the consensus estimate of $165.67 million. Tallgrass Energy GP had a net margin of 6.01% and a return on equity of 2.26%. Equities analysts forecast that Tallgrass Energy GP will post $0.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were paid a $0.287 dividend. This is a boost from Tallgrass Energy GP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 26th. This represents a $1.15 dividend on an annualized basis and a yield of 4.32%. Tallgrass Energy GP’s payout ratio is presently 148.00%.

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A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in Tallgrass Energy GP by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 66,196 shares of the pipeline company’s stock valued at $1,058,000 after buying an additional 2,510 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in Tallgrass Energy GP by 50.9% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 160,565 shares of the pipeline company’s stock valued at $2,564,000 after buying an additional 54,141 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Tallgrass Energy GP by 27.7% in the fourth quarter. OppenheimerFunds Inc. now owns 5,830,679 shares of the pipeline company’s stock valued at $93,116,000 after buying an additional 1,265,189 shares in the last quarter. Dividend Assets Capital LLC boosted its position in Tallgrass Energy GP by 3.9% in the second quarter. Dividend Assets Capital LLC now owns 1,234,990 shares of the pipeline company’s stock valued at $27,874,000 after buying an additional 45,805 shares in the last quarter. Finally, Limestone Value Partners LLC boosted its position in Tallgrass Energy GP by 1,996.7% in the fourth quarter. Limestone Value Partners LLC now owns 369,288 shares of the pipeline company’s stock valued at $5,898,000 after buying an additional 351,675 shares in the last quarter. Institutional investors own 83.30% of the company’s stock.

Tallgrass Energy GP Company Profile

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