Shares of Tallgrass Energy GP, LP (NYSE:TEGP) have earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $28.63.

TEGP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Tallgrass Energy GP, from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research report on Thursday, April 13th. Scotiabank restated a “hold” rating and issued a $28.00 price target on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Macquarie initiated coverage on Tallgrass Energy GP, in a research report on Friday, April 21st. They issued an “outperform” rating and a $32.00 price target on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $30.00 price target on shares of Tallgrass Energy GP, in a research report on Friday, March 17th. Finally, Mitsubishi UFJ Financial Group restated a “neutral” rating and issued a $32.00 price target on shares of Tallgrass Energy GP, in a research report on Thursday, April 20th.

Shares of Tallgrass Energy GP, (NYSE TEGP) opened at 23.58 on Wednesday. The stock has a 50 day moving average of $25.84 and a 200 day moving average of $26.88. Tallgrass Energy GP, has a 52 week low of $20.38 and a 52 week high of $29.50. The firm has a market cap of $1.37 billion, a P/E ratio of 38.85 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last issued its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. Tallgrass Energy GP, had a return on equity of 1.69% and a net margin of 5.17%. The company had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $165.67 million. Analysts anticipate that Tallgrass Energy GP, will post $0.94 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC raised its stake in shares of Tallgrass Energy GP, by 973.5% in the first quarter. HITE Hedge Asset Management LLC now owns 88,574 shares of the pipeline company’s stock worth $2,547,000 after buying an additional 80,323 shares during the last quarter. Swiss National Bank raised its stake in shares of Tallgrass Energy GP, by 3.6% in the first quarter. Swiss National Bank now owns 86,100 shares of the pipeline company’s stock worth $2,476,000 after buying an additional 3,000 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of Tallgrass Energy GP, by 23.7% in the first quarter. Texas Yale Capital Corp. now owns 11,750 shares of the pipeline company’s stock worth $338,000 after buying an additional 2,250 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Tallgrass Energy GP, during the first quarter worth approximately $115,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Tallgrass Energy GP, by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock worth $1,655,000 after buying an additional 665 shares during the last quarter.

About Tallgrass Energy GP,

Analyst Recommendations for Tallgrass Energy GP, (NYSE:TEGP)

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