Brokerages expect Tallgrass Energy GP, LP (NYSE:TEGP) to post $0.24 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Tallgrass Energy GP,’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.26. Tallgrass Energy GP, reported earnings of $0.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 242.9%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, August 2nd.

According to Zacks, analysts expect that Tallgrass Energy GP, will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.11 to $1.21. For the next year, analysts expect that the company will report earnings of $1.17 per share, with EPS estimates ranging from $1.05 to $1.26. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tallgrass Energy GP,.

Tallgrass Energy GP, (NYSE:TEGP) last posted 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 firm had revenue of $144.40 million during the quarter, compared to analyst estimates of $165.67 million.

A number of brokerages have recently issued reports on TEGP. BidaskClub raised shares of Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Tallgrass Energy GP, from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, June 16th. TheStreet raised shares of Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Scotiabank reaffirmed a “hold” rating and issued a $28.00 target price on shares of Tallgrass Energy GP, in a report on Thursday, April 27th. Finally, Macquarie initiated coverage on shares of Tallgrass Energy GP, in a report on Friday, April 21st. They issued an “outperform” rating and a $32.00 target price for the company. One investment 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. Tallgrass Energy GP, has an average rating of “Hold” and a consensus price target of $28.33.

TRADEMARK VIOLATION WARNING: This story was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/07/11/zacks-brokerages-expect-tallgrass-energy-gp-lp-nysetegp-will-post-earnings-of-0-24-per-share.html.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Capital Advisors LP increased its position in shares of Tallgrass Energy GP, by 4.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 5,691,172 shares of the pipeline company’s stock valued at $163,663,000 after buying an additional 261,453 shares in the last quarter. Eagle Global Advisors LLC increased 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 valued at $66,745,000 after buying an additional 13,918 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Tallgrass Energy GP, by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,165,562 shares of the pipeline company’s stock valued at $33,522,000 after buying an additional 110,370 shares in the last quarter. Atlantic Trust Group LLC increased its position in shares of Tallgrass Energy GP, by 35.0% in the first quarter. Atlantic Trust Group LLC now owns 777,896 shares of the pipeline company’s stock valued at $22,372,000 after buying an additional 201,803 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Tallgrass Energy GP, by 11.0% in the first quarter. Bank of America Corp DE now owns 670,994 shares of the pipeline company’s stock valued at $19,298,000 after buying an additional 66,266 shares in the last quarter.

Tallgrass Energy GP, (TEGP) traded up 0.04% during trading on Tuesday, hitting $25.21. The stock had a trading volume of 269,690 shares. Tallgrass Energy GP, has a 52-week low of $21.74 and a 52-week high of $29.50. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 41.53 and a beta of 2.17. The company has a 50-day moving average price of $25.22 and a 200-day moving average price of $26.78.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 28th will be issued a $0.3425 dividend. The ex-dividend date is Wednesday, July 26th. This represents a $1.37 annualized dividend and a yield of 5.43%. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. Tallgrass Energy GP,’s dividend payout ratio is currently 191.67%.

About Tallgrass Energy GP,

Get a free copy of the Zacks research report on Tallgrass Energy GP, (TEGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tallgrass Energy GP LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy GP LP and related companies with MarketBeat.com's FREE daily email newsletter.