Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $34.94 Million Stake in Tallgrass Energy GP, LP (TEGP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Tallgrass Energy GP, LP (NYSE:TEGP) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,236,899 shares of the pipeline company’s stock after acquiring an additional 36,683 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.79% of Tallgrass Energy GP worth $34,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Advisors LLC increased its stake in Tallgrass Energy GP by 82.2% in the 3rd quarter. Harvest Fund Advisors LLC now owns 3,266,244 shares of the pipeline company’s stock worth $92,271,000 after buying an additional 1,473,761 shares during the period. Catalyst Capital Advisors LLC increased its stake in Tallgrass Energy GP by 81.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 438,584 shares of the pipeline company’s stock worth $12,390,000 after buying an additional 196,686 shares during the period. Renaissance Technologies LLC increased its stake in Tallgrass Energy GP by 630.2% in the 1st quarter. Renaissance Technologies LLC now owns 204,645 shares of the pipeline company’s stock worth $5,886,000 after buying an additional 176,619 shares during the period. Global X Management Co. LLC increased its stake in Tallgrass Energy GP by 67.3% in the 2nd quarter. Global X Management Co. LLC now owns 409,973 shares of the pipeline company’s stock worth $10,426,000 after buying an additional 164,963 shares during the period. Finally, First Trust Advisors LP purchased a new position in Tallgrass Energy GP in the 3rd quarter worth about $3,445,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Tallgrass Energy GP, LP (NYSE TEGP) traded down $0.39 during midday trading on Monday, reaching $22.87. 120,303 shares of the company’s stock were exchanged, compared to its average volume of 203,412. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3,657.15, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.97 and a beta of 2.08. Tallgrass Energy GP, LP has a 1-year low of $22.38 and a 1-year high of $29.50.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.355 per share. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, October 30th. This represents a $1.42 dividend on an annualized basis and a yield of 6.21%. Tallgrass Energy GP’s dividend payout ratio (DPR) is 171.25%.

Several research firms recently commented on TEGP. Morgan Stanley reduced their price target on shares of Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. BidaskClub raised shares of Tallgrass Energy GP from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 price target on shares of Tallgrass Energy GP in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price target on shares of Tallgrass Energy GP in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.11.

In other Tallgrass Energy GP news, Director Thomas A. Gerke bought 9,800 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $25.50 per share, with a total value of $249,900.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. bought 5,428 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $25.04 per share, for a total transaction of $135,917.12. The disclosure for this purchase can be found here.

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Tallgrass Energy GP Company Profile

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

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