Walnut Private Equity Partners LLC raised its holdings in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 49.5% in the fourth quarter, HoldingsChannel reports. The firm owned 30,206 shares of the pipeline company’s stock after buying an additional 10,000 shares during the period. Tallgrass Energy GP comprises 0.6% of Walnut Private Equity Partners LLC’s holdings, making the stock its 16th largest position. Walnut Private Equity Partners LLC’s holdings in Tallgrass Energy GP were worth $752,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Tallgrass Energy GP by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 330 shares in the last quarter. Tiedemann Wealth Management LLC bought a new stake in Tallgrass Energy GP during the 3rd quarter valued at $148,000. Cubist Systematic Strategies LLC increased its stake in Tallgrass Energy GP by 816.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock valued at $159,000 after purchasing an additional 5,554 shares in the last quarter. Summit Asset Management LLC bought a new stake in Tallgrass Energy GP during the 3rd quarter valued at $215,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Tallgrass Energy GP during the 2nd quarter valued at $219,000. Institutional investors and hedge funds own 36.31% of the company’s stock.
Tallgrass Energy GP, LP (NYSE TEGP) traded up $0.34 on Friday, reaching $25.80. 244,000 shares of the company’s stock were exchanged, compared to its average volume of 327,987. 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 $4,060.00 and a P/E ratio of 32.25. Tallgrass Energy GP, LP has a 1 year low of $21.79 and a 1 year high of $29.50.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.3675 dividend. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Tuesday, January 30th. Tallgrass Energy GP’s payout ratio is 113.75%.
TEGP has been the topic of a number of analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $32.00 price objective on shares of Tallgrass Energy GP in a report on Tuesday, September 26th. Zacks Investment Research raised shares of Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a report on Thursday, September 21st. Barclays reaffirmed a “buy” rating and set a $34.00 price objective on shares of Tallgrass Energy GP in a report on Thursday, October 19th. BidaskClub downgraded shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Credit Suisse Group initiated coverage on shares of Tallgrass Energy GP in a report on Thursday, January 4th. They set an “underperform” rating and a $21.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.00.
In related news, insider David G. Dehaemers, Jr. purchased 5,428 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average cost of $25.04 per share, with a total value of $135,917.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Gerke purchased 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $249,900.00. The disclosure for this purchase can be found here.
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Tallgrass Energy GP Company Profile
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