Tallgrass Energy GP (TEGP) Now Covered by Analysts at Credit Suisse Group

Research analysts at Credit Suisse Group started coverage on shares of Tallgrass Energy GP (NYSE:TEGP) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “underperform” rating on the pipeline company’s stock.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 21st. BidaskClub downgraded shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price target on shares of Tallgrass Energy GP in a research note on Sunday, October 29th. Robert W. Baird reaffirmed a “buy” rating and set a $33.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, December 7th. Finally, Morgan Stanley reduced their target price on shares of Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.13.

Shares of Tallgrass Energy GP (NYSE TEGP) traded up $0.05 during midday trading on Thursday, hitting $25.80. 346,784 shares of the stock traded hands, compared to its average volume of 317,667. Tallgrass Energy GP has a 1-year low of $21.79 and a 1-year high of $29.50. The firm has a market capitalization of $4,009.35, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 3.16 and a beta of 1.97. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18.

In other Tallgrass Energy GP news, Director Thomas A. Gerke acquired 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average price of $25.50 per share, for a total transaction of $249,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David G. Dehaemers, Jr. acquired 5,428 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $25.04 per share, with a total value of $135,917.12. The disclosure for this purchase can be found here.

Several hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its holdings in Tallgrass Energy GP by 175.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 22,729 shares of the pipeline company’s stock worth $642,000 after acquiring an additional 14,468 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Tallgrass Energy GP by 5.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,303,355 shares of the pipeline company’s stock worth $93,320,000 after acquiring an additional 180,570 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Tallgrass Energy GP by 49.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 60,511 shares of the pipeline company’s stock worth $1,709,000 after acquiring an additional 19,938 shares in the last quarter. AMP Capital Investors Ltd grew its holdings in Tallgrass Energy GP by 64.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 45,654 shares of the pipeline company’s stock worth $1,289,000 after acquiring an additional 17,854 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in Tallgrass Energy GP by 3.2% during the 3rd quarter. Financial Counselors Inc. now owns 100,035 shares of the pipeline company’s stock worth $2,826,000 after acquiring an additional 3,078 shares in the last quarter. Hedge funds and other institutional investors own 36.31% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Tallgrass Energy GP (TEGP) Now Covered by Analysts at Credit Suisse Group” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/04/tallgrass-energy-gp-tegp-now-covered-by-analysts-at-credit-suisse-group.html.

Tallgrass Energy GP Company Profile

The Fly

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

Leave a Reply