Alpine Group USVI LLC Buys New Position in Tallgrass Energy LP (NYSE:TGE)

Alpine Group USVI LLC bought a new stake in Tallgrass Energy LP (NYSE:TGE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 65,000 shares of the company’s stock, valued at approximately $1,309,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TGE. Invesco Ltd. raised its stake in Tallgrass Energy by 124,475.5% during the 2nd quarter. Invesco Ltd. now owns 25,063,342 shares of the company’s stock valued at $529,087,000 after acquiring an additional 25,043,223 shares during the last quarter. Blackstone Group Inc raised its stake in Tallgrass Energy by 5.8% during the 2nd quarter. Blackstone Group Inc now owns 23,652,463 shares of the company’s stock valued at $499,303,000 after acquiring an additional 1,305,670 shares during the last quarter. Clearbridge Investments LLC raised its stake in Tallgrass Energy by 3.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,220,606 shares of the company’s stock valued at $131,246,000 after acquiring an additional 165,139 shares during the last quarter. Energy Income Partners LLC raised its stake in Tallgrass Energy by 8.9% during the 2nd quarter. Energy Income Partners LLC now owns 3,613,444 shares of the company’s stock valued at $76,280,000 after acquiring an additional 294,468 shares during the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in Tallgrass Energy by 29.8% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,659,874 shares of the company’s stock valued at $35,040,000 after acquiring an additional 381,512 shares during the last quarter. 55.32% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on the company. Citigroup assumed coverage on Tallgrass Energy in a research note on Tuesday, June 25th. They set a “buy” rating and a $23.00 price objective for the company. Stifel Nicolaus downgraded Tallgrass Energy from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Friday. Piper Jaffray Companies assumed coverage on Tallgrass Energy in a research note on Wednesday, July 17th. They set a “neutral” rating and a $25.00 price objective for the company. Bank of America raised Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 29th. Finally, Zacks Investment Research downgraded Tallgrass Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.15.

Shares of TGE stock traded up $0.04 during trading hours on Friday, reaching $19.39. 170,513 shares of the company’s stock were exchanged, compared to its average volume of 2,224,222. The company has a market cap of $5.63 billion, a P/E ratio of 15.32 and a beta of 0.69. The company’s 50 day moving average is $19.21 and its two-hundred day moving average is $21.58. Tallgrass Energy LP has a 1 year low of $14.28 and a 1 year high of $25.96. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.69 and a quick ratio of 0.61.

Tallgrass Energy (NYSE:TGE) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $211.52 million for the quarter, compared to analysts’ expectations of $226.00 million. Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%. As a group, analysts predict that Tallgrass Energy LP will post 1.39 EPS for the current fiscal year.

Tallgrass Energy Company Profile

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.

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Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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