Tallgrass Energy GP (TEGP) Given Buy Rating at Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Tallgrass Energy GP (NYSE:TEGP) in a research note released on Thursday morning. Robert W. Baird currently has a $33.00 target price on the pipeline company’s stock.

Several other brokerages have also commented on TEGP. BidaskClub lowered Tallgrass Energy GP from a hold rating to a sell rating in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a buy rating and set a $31.00 price objective on shares of Tallgrass Energy GP in a research report on Friday, August 18th. Zacks Investment Research upgraded Tallgrass Energy GP from a strong sell rating to a hold rating in a research report on Thursday, September 21st. Barclays reiterated a buy rating and set a $34.00 price objective on shares of Tallgrass Energy GP in a research report on Thursday, October 19th. Finally, Morgan Stanley reduced their price objective on Tallgrass Energy GP from $30.00 to $29.00 and set an equal weight rating on the stock in a research report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $30.22.

Tallgrass Energy GP (TEGP) remained flat at $$23.82 during trading hours on Thursday. 207,600 shares of the stock traded hands, compared to its average volume of 212,501. Tallgrass Energy GP has a fifty-two week low of $21.79 and a fifty-two week high of $29.50. The stock has a market cap of $3,625.71, a PE ratio of 28.83, a PEG ratio of 2.95 and a beta of 1.97. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.96%. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, October 30th. Tallgrass Energy GP’s dividend payout ratio (DPR) is presently 171.25%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in Tallgrass Energy GP by 1.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 18,738 shares of the pipeline company’s stock worth $477,000 after acquiring an additional 289 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Tallgrass Energy GP by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after buying an additional 330 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Tallgrass Energy GP by 7.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,577 shares of the pipeline company’s stock worth $447,000 after buying an additional 1,150 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Tallgrass Energy GP by 10.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,629 shares of the pipeline company’s stock worth $321,000 after buying an additional 1,188 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Tallgrass Energy GP by 18.5% in the 2nd quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock worth $235,000 after buying an additional 1,428 shares during the last quarter. Institutional investors and hedge funds own 36.32% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international copyright & trademark law. The original version of this piece of content can be read at https://transcriptdaily.com/2017/12/09/tallgrass-energy-gp-tegp-given-buy-rating-at-robert-w-baird.html.

About Tallgrass Energy GP

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

Receive News & Ratings for Tallgrass Energy GP LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy GP LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply