Tallgrass Energy GP (NYSE:TEGP) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, MarketBeat reports. They presently have a $25.00 target price on the pipeline company’s stock, down from their prior target price of $30.00. Barclays’ price objective points to a potential upside of 10.82% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Stifel Nicolaus set a $26.00 price objective on Tallgrass Energy GP and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird reiterated a “buy” rating and set a $36.00 price objective on shares of Tallgrass Energy GP in a research note on Thursday. Credit Suisse Group assumed coverage on Tallgrass Energy GP in a research note on Thursday, January 4th. They set an “underperform” rating and a $21.00 price objective for the company. Morgan Stanley dropped their price target on Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Finally, BidaskClub upgraded Tallgrass Energy GP from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.78.
Tallgrass Energy GP (NYSE TEGP) traded down $0.22 during trading hours on Monday, reaching $22.56. The company’s stock had a trading volume of 1,077,951 shares, compared to its average volume of 433,785. Tallgrass Energy GP has a 52 week low of $21.66 and a 52 week high of $29.50. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3,581.69, a price-to-earnings ratio of 28.20, a P/E/G ratio of 2.74 and a beta of 1.75.
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Tallgrass Energy GP Company Profile
Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.
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