Tallgrass Energy GP (NYSE:TEGP) posted its earnings results on Tuesday. The pipeline company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08), Morningstar.com reports. Tallgrass Energy GP had a return on equity of 2.46% and a net margin of 7.07%. The firm had revenue of $174.77 million for the quarter, compared to analyst estimates of $187.26 million.
Shares of Tallgrass Energy GP (NYSE:TEGP) traded down $0.52 during trading hours on Wednesday, hitting $22.59. 578,617 shares of the company were exchanged, compared to its average volume of 440,404. 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 company has a market capitalization of $3,547.10, a price-to-earnings ratio of 27.94, a PEG ratio of 2.85 and a beta of 1.75. Tallgrass Energy GP has a fifty-two week low of $21.66 and a fifty-two week high of $29.50.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Tuesday, January 30th. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.36. Tallgrass Energy GP’s payout ratio is 183.75%.
A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $26.00 target price on shares of Tallgrass Energy GP and gave the stock a “buy” rating in a research report on Thursday, February 8th. BidaskClub cut shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Robert W. Baird reissued a “buy” rating and set a $33.00 target price on shares of Tallgrass Energy GP in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Finally, Barclays cut shares of Tallgrass Energy GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $30.00 to $25.00 in a research report on Monday. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.67.
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About Tallgrass Energy GP
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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