Tallgrass Energy GP, LP (NYSE:TEGP) Stake Lowered by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 650,640 shares of the pipeline company’s stock after selling 35 shares during the period. Duff & Phelps Investment Management Co. owned approximately 1.12% of Tallgrass Energy GP, worth $16,546,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP increased its stake in Tallgrass Energy GP, by 4.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 5,691,172 shares of the pipeline company’s stock valued at $163,663,000 after buying an additional 261,453 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in Tallgrass Energy GP, by 2.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,122,785 shares of the pipeline company’s stock valued at $79,412,000 after buying an additional 83,522 shares during the period. Eagle Global Advisors LLC increased its stake in Tallgrass Energy GP, by 0.6% in the first quarter. Eagle Global Advisors LLC now owns 2,320,773 shares of the pipeline company’s stock valued at $66,745,000 after buying an additional 13,918 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in 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 valued at $33,522,000 after buying an additional 110,370 shares during the period. Finally, Atlantic Trust Group LLC increased its stake in Tallgrass Energy GP, by 35.0% in the first quarter. Atlantic Trust Group LLC now owns 777,896 shares of the pipeline company’s stock valued at $22,372,000 after buying an additional 201,803 shares during the period.

Shares of Tallgrass Energy GP, LP (TEGP) opened at 24.21 on Friday. Tallgrass Energy GP, LP has a 12 month low of $21.74 and a 12 month high of $29.50. The firm has a 50 day moving average price of $25.37 and a 200-day moving average price of $26.66. The company has a market cap of $1.41 billion, a P/E ratio of 35.81 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by $0.08. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. The firm had revenue of $160.86 million for the quarter, compared to analyst estimates of $166.78 million. Analysts anticipate that Tallgrass Energy GP, LP will post $0.94 earnings per share for the current fiscal year.

The company 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. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. This represents a $1.37 annualized dividend and a yield of 5.66%. The ex-dividend date is Wednesday, July 26th. Tallgrass Energy GP,’s payout ratio is currently 201.47%.

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Several analysts recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $29.00 target price (up previously from $28.00) on shares of Tallgrass Energy GP, in a research note on Friday, July 14th. Zacks Investment Research downgraded Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Barclays PLC increased their target price on Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Macquarie assumed coverage on Tallgrass Energy GP, in a research note on Friday, April 21st. They set an “outperform” rating and a $32.00 target price for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $31.00 target price on shares of Tallgrass Energy GP, in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.78.

About Tallgrass Energy GP,

Institutional Ownership by Quarter for Tallgrass Energy GP, (NYSE:TEGP)

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