Tallgrass Energy GP, LP (NYSE:TEGP) announced a quarterly dividend on Thursday, July 6th, Wall Street Journal reports. Shareholders of record on Friday, July 28th will be paid a dividend of 0.3425 per share by the pipeline company on Monday, August 14th. This represents a $1.37 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Wednesday, July 26th. This is a positive change from Tallgrass Energy GP,’s previous quarterly dividend of $0.29.

Tallgrass Energy GP, has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Tallgrass Energy GP, to earn $1.07 per share next year, which means the company may not be able to cover its $1.15 annual dividend with an expected future payout ratio of 107.5%.

Shares of Tallgrass Energy GP, (TEGP) traded up 0.04% during mid-day trading on Thursday, reaching $25.20. The company’s stock had a trading volume of 130,694 shares. The company has a market capitalization of $1.46 billion, a PE ratio of 41.52 and a beta of 2.17. Tallgrass Energy GP, has a 52-week low of $21.74 and a 52-week high of $29.50. The firm’s 50 day moving average is $25.22 and its 200-day moving average is $26.78.

Tallgrass Energy GP, (NYSE:TEGP) last posted its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.21 earnings per share for the quarter, beating the 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%. Analysts forecast that Tallgrass Energy GP, will post $0.92 EPS for the current year.

TEGP has been the topic of several recent analyst reports. TheStreet raised Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and set a $30.00 price target on shares of Tallgrass Energy GP, in a research report on Friday, March 17th. Zacks Investment Research lowered Tallgrass Energy GP, from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 28th. Scotiabank reissued a “hold” rating and set a $28.00 price target on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Finally, BidaskClub raised Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $28.33.

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About Tallgrass Energy GP,

Dividend History for Tallgrass Energy GP, (NYSE:TEGP)

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