Wall Street brokerages forecast that Tallgrass Energy LP (NYSE:TGE) will report $220.05 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Tallgrass Energy’s earnings, with the highest sales estimate coming in at $249.30 million and the lowest estimate coming in at $190.80 million. Tallgrass Energy reported sales of $197.35 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The company is expected to announce its next quarterly earnings results on Tuesday, May 5th.
On average, analysts expect that Tallgrass Energy will report full-year sales of $886.40 million for the current fiscal year, with estimates ranging from $786.20 million to $986.60 million. For the next year, analysts expect that the business will post sales of $936.25 million, with estimates ranging from $821.90 million to $1.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tallgrass Energy.
Tallgrass Energy (NYSE:TGE) last issued its earnings results on Wednesday, February 12th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $232.96 million during the quarter, compared to the consensus estimate of $229.50 million. Tallgrass Energy had a net margin of 29.74% and a return on equity of 11.24%.
Several brokerages have recently issued reports on TGE. Piper Jaffray Companies set a $20.00 target price on shares of Tallgrass Energy and gave the company a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research raised shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, January 28th. Wells Fargo & Co lowered shares of Tallgrass Energy from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, January 7th. Finally, ValuEngine raised shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.33.
Shares of NYSE TGE traded up $0.03 during mid-day trading on Friday, hitting $22.30. The company’s stock had a trading volume of 783,100 shares, compared to its average volume of 3,191,428. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 14.97 and a beta of 0.72. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.63. Tallgrass Energy has a one year low of $14.28 and a one year high of $25.96. The company’s fifty day simple moving average is $22.25 and its 200-day simple moving average is $19.65.
Several hedge funds and other institutional investors have recently modified their holdings of TGE. Orion Portfolio Solutions LLC acquired a new stake in shares of Tallgrass Energy in the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Tallgrass Energy by 179.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,200 shares of the company’s stock valued at $27,000 after acquiring an additional 770 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Tallgrass Energy in the 4th quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new stake in shares of Tallgrass Energy in the 4th quarter valued at approximately $43,000. Finally, Mint Tower Capital Management B.V. acquired a new stake in shares of Tallgrass Energy in the 3rd quarter valued at approximately $47,000. 55.42% of the stock is currently owned by institutional investors.
About Tallgrass Energy
Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.
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