Shares of Tallgrass Energy GP, LP (NYSE:TEGP) have been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.11.

TEGP has been the subject of several recent research reports. BidaskClub downgraded shares of Tallgrass Energy GP, from a “sell” rating to a “strong sell” rating in a research report on Thursday. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Tallgrass Energy GP, in a research report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Tallgrass Energy GP, in a research report on Sunday. Barclays PLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Tallgrass Energy GP, in a research report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Tallgrass Energy GP, from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 21st.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/02/tallgrass-energy-gp-lp-tegp-receives-consensus-rating-of-hold-from-brokerages.html.

Tallgrass Energy GP, (NYSE:TEGP) last announced 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). Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. The company had revenue of $160.86 million for the quarter, compared to analyst estimates of $166.78 million.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.355 per share. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Monday, October 30th. Tallgrass Energy GP,’s dividend payout ratio is presently 201.47%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Tallgrass Energy GP, in the 1st quarter worth $119,000. The Manufacturers Life Insurance Company increased its holdings in shares of Tallgrass Energy GP, by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after buying an additional 330 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Tallgrass Energy GP, by 816.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after buying an additional 5,554 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Tallgrass Energy GP, in the 2nd quarter worth $219,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Tallgrass Energy GP, by 18.5% in the 2nd quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock worth $235,000 after buying an additional 1,428 shares during the last quarter. Institutional investors and hedge funds own 37.17% of the company’s stock.

Tallgrass Energy GP, Company Profile

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

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.