Tallgrass Energy GP, LP (NYSE:TEGP) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the company. TheStreet upgraded Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Tallgrass Energy GP, from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, April 13th. Mitsubishi UFJ Financial Group restated a “neutral” rating and issued a $32.00 price objective on shares of Tallgrass Energy GP, in a research report on Thursday, April 20th. Scotiabank restated a “hold” rating and issued a $28.00 price objective on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Finally, Macquarie began coverage on Tallgrass Energy GP, in a research report on Friday, April 21st. They issued an “outperform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.33.

Tallgrass Energy GP, (TEGP) traded up 0.04% during trading on Thursday, hitting $25.20. 130,694 shares of the company were exchanged. Tallgrass Energy GP, has a 1-year low of $21.74 and a 1-year high of $29.50. The stock has a market capitalization of $1.46 billion, a PE ratio of 41.52 and a beta of 2.17. The firm’s 50 day moving average price is $25.22 and its 200-day moving average price is $26.78.

Tallgrass Energy GP, (NYSE:TEGP) last issued its earnings results on Wednesday, May 3rd. The pipeline company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $144.40 million for the quarter, compared to analyst estimates of $165.67 million. Tallgrass Energy GP, had a return on equity of 1.69% and a net margin of 5.17%. Equities analysts predict that Tallgrass Energy GP, will post $0.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, July 28th will be given a dividend of $0.3425 per share. This is a positive change from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, July 26th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.44%. Tallgrass Energy GP,’s dividend payout ratio (DPR) is 191.67%.

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Several hedge funds and other institutional investors have recently made changes to their positions in TEGP. Global Endowment Management LP raised its position in shares of Tallgrass Energy GP, by 5.1% in the first quarter. Global Endowment Management LP now owns 22,760 shares of the pipeline company’s stock worth $654,000 after buying an additional 1,100 shares during the period. FMR LLC acquired a new position in shares of Tallgrass Energy GP, during the fourth quarter worth about $12,006,000. Texas Yale Capital Corp. raised its position 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 period. US Bancorp DE raised its position in shares of Tallgrass Energy GP, by 1,480.2% in the first quarter. US Bancorp DE now owns 30,798 shares of the pipeline company’s stock worth $886,000 after buying an additional 28,849 shares during the period. Finally, Eagle Global Advisors LLC raised its position in shares of Tallgrass Energy GP, by 0.6% in the first quarter. Eagle Global Advisors LLC now owns 2,320,773 shares of the pipeline company’s stock worth $66,745,000 after buying an additional 13,918 shares during the period.

About Tallgrass Energy GP,

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

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