Tallgrass Energy GP, LP (TEGP) Given Consensus Rating of “Hold” by Brokerages

Tallgrass Energy GP, LP (NYSE:TEGP) has earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.22.

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 target price on shares of Tallgrass Energy GP, in a research report on Friday, August 18th. Zacks Investment Research cut shares of Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Robert W. Baird reiterated a “buy” rating and issued a $32.00 target price on shares of Tallgrass Energy GP, in a research report on Tuesday, September 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $29.00 target price (up from $28.00) on shares of Tallgrass Energy GP, in a research report on Friday, July 14th. Finally, Barclays PLC increased their target price on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, August 4th.

Shares of Tallgrass Energy GP, (NYSE TEGP) opened at 27.72 on Friday. The stock has a 50 day moving average of $27.54 and a 200-day moving average of $27.54. The company has a market capitalization of $1.61 billion, a P/E ratio of 41.01 and a beta of 2.17. Tallgrass Energy GP, has a 12-month low of $21.74 and a 12-month high of $29.30.

Tallgrass Energy GP, (NYSE:TEGP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.08). The business had revenue of $160.86 million during the quarter, compared to analyst estimates of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. Equities research analysts forecast that Tallgrass Energy GP, will post $0.93 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in Tallgrass Energy GP, by 1.6% during the second quarter. Janney Montgomery Scott LLC now owns 18,738 shares of the pipeline company’s stock worth $477,000 after purchasing an additional 289 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Tallgrass Energy GP, by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after purchasing an additional 330 shares during the last quarter. Bank of New York Mellon Corp increased its position in Tallgrass Energy GP, by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock worth $1,655,000 after purchasing an additional 665 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Tallgrass Energy GP, by 7.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,427 shares of the pipeline company’s stock worth $472,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Tallgrass Energy GP, by 10.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 12,629 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 1,188 shares during the last quarter. Hedge funds and other institutional investors own 36.84% of the company’s stock.

Tallgrass Energy GP, Company Profile

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

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