Tallgrass Energy GP, LP (NYSE:TEGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Tallgrass Energy GP, LP is a limited partnership company. The company is engaged in the transportation, storage and processing of natural gas, the transportation of crude oil and the provision of water business services primarily to the oil and gas exploration and production industry through its subsidiary. Tallgrass Energy GP, LP is based in LEAWOOD, United States. “

A number of other equities analysts have also recently commented on TEGP. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $30.00 target price on shares of Tallgrass Energy GP, in a report on Monday, July 31st. Barclays PLC lifted their target price on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Friday. BidaskClub raised shares of Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 target price on shares of Tallgrass Energy GP, in a report on Friday, July 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $29.00 target price (up from $28.00) on shares of Tallgrass Energy GP, in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Tallgrass Energy GP, has an average rating of “Hold” and an average price target of $29.78.

Tallgrass Energy GP, (NYSE TEGP) traded up 0.20% during mid-day trading on Tuesday, hitting $25.01. 22,907 shares of the stock were exchanged. Tallgrass Energy GP, has a 52-week low of $21.74 and a 52-week high of $29.50. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 41.20 and a beta of 2.17. The company has a 50 day moving average price of $25.02 and a 200 day moving average price of $26.76.

Tallgrass Energy GP, (NYSE:TEGP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.08. The company had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $166.78 million. Tallgrass Energy GP, had a return on equity of 2.01% and a net margin of 5.91%. On average, analysts anticipate that Tallgrass Energy GP, will post $0.83 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC boosted its position in shares of Tallgrass Energy GP, by 17.2% in the second quarter. HITE Hedge Asset Management LLC now owns 103,830 shares of the pipeline company’s stock valued at $2,640,000 after buying an additional 15,256 shares in the last quarter. MAI Capital Management boosted its position in shares of Tallgrass Energy GP, by 25.0% in the second quarter. MAI Capital Management now owns 32,707 shares of the pipeline company’s stock valued at $832,000 after buying an additional 6,543 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Tallgrass Energy GP, during the second quarter valued at about $497,000. Proficio Capital Partners LLC boosted its position in shares of Tallgrass Energy GP, by 18.5% in the second quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock valued at $235,000 after buying an additional 1,428 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Tallgrass Energy GP, by 8.8% in the second quarter. Alps Advisors Inc. now owns 209,549 shares of the pipeline company’s stock valued at $5,329,000 after buying an additional 16,911 shares in the last quarter.

Tallgrass Energy GP, Company Profile

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