Tallgrass Energy GP, LP (NYSE:TEGP) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Tallgrass Energy GP, LP (NYSE:TEGP) in a report released on Friday morning. They currently have a $29.00 price objective on the pipeline company’s stock, up from their prior price objective of $28.00.

A number of other brokerages have also recently weighed in on TEGP. Zacks Investment Research raised Tallgrass Energy GP, from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a research note on Thursday, April 13th. Mitsubishi UFJ Financial Group reissued a neutral rating and issued a $32.00 price target on shares of Tallgrass Energy GP, in a research note on Thursday, April 20th. Macquarie assumed coverage on Tallgrass Energy GP, in a research note on Friday, April 21st. They issued an outperform rating and a $32.00 price target on the stock. Royal Bank Of Canada reissued a hold rating and issued a $30.00 price target on shares of Tallgrass Energy GP, in a research note on Friday, March 17th. Finally, Scotiabank reissued a hold rating and issued a $28.00 price target on shares of Tallgrass Energy GP, in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $28.90.

Tallgrass Energy GP, (NYSE TEGP) traded up 0.11% during midday trading on Friday, hitting $26.50. 192,426 shares of the company traded hands. Tallgrass Energy GP, has a 12-month low of $21.74 and a 12-month high of $29.50. The stock has a 50 day moving average of $25.22 and a 200 day moving average of $26.78. The stock has a market cap of $1.54 billion, a P/E ratio of 43.66 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last issued its quarterly earnings results on Wednesday, May 3rd. The pipeline company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $165.67 million. Tallgrass Energy GP, had a return on equity of 1.69% and a net margin of 5.17%. Equities research analysts predict that Tallgrass Energy GP, will post $0.92 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, July 28th will be given a dividend of $0.3425 per share. The ex-dividend date of this dividend is Wednesday, July 26th. This is a positive change from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. This represents a $1.37 dividend on an annualized basis and a yield of 5.17%. Tallgrass Energy GP,’s dividend payout ratio (DPR) is presently 191.67%.

A number of large investors have recently made changes to their positions in TEGP. Virginia Retirement Systems ET AL raised its stake in shares of Tallgrass Energy GP, by 211.1% in the first quarter. Virginia Retirement Systems ET AL now owns 23,640 shares of the pipeline company’s stock worth $680,000 after buying an additional 16,040 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Tallgrass Energy GP, by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,165,562 shares of the pipeline company’s stock worth $33,522,000 after buying an additional 110,370 shares during the last quarter. HITE Hedge Asset Management LLC raised its stake in shares of Tallgrass Energy GP, by 973.5% in the first quarter. HITE Hedge Asset Management LLC now owns 88,574 shares of the pipeline company’s stock worth $2,547,000 after buying an additional 80,323 shares during the last quarter. Swiss National Bank raised its stake in shares of Tallgrass Energy GP, by 3.6% in the first quarter. Swiss National Bank now owns 86,100 shares of the pipeline company’s stock worth $2,476,000 after buying an additional 3,000 shares during the last quarter. Finally, Texas Yale Capital Corp. raised its stake in shares of Tallgrass Energy GP, by 23.7% in the first quarter. Texas Yale Capital Corp. now owns 11,750 shares of the pipeline company’s stock worth $338,000 after buying an additional 2,250 shares during the last quarter.

Tallgrass Energy GP, Company Profile

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

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