Shares of Tallgrass Energy GP LP (NYSE:TEGP) have received an average rating of “Buy” from the eight brokerages that are currently covering the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.67.

Several brokerages have recently commented on TEGP. Credit Suisse Group AG set a $28.00 price objective on Tallgrass Energy GP and gave the company a “buy” rating in a research report on Saturday, August 6th. Zacks Investment Research lowered Tallgrass Energy GP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC increased their price objective on Tallgrass Energy GP from $23.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th.

A number of large investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake in Tallgrass Energy GP by 0.7% in the second quarter. Chicago Partners Investment Group LLC now owns 11,250 shares of the company’s stock valued at $254,000 after buying an additional 81 shares during the period. Van ECK Associates Corp boosted its stake in Tallgrass Energy GP by 1.0% in the second quarter. Van ECK Associates Corp now owns 57,945 shares of the company’s stock valued at $1,308,000 after buying an additional 601 shares during the period. Teacher Retirement System of Texas boosted its stake in Tallgrass Energy GP by 10.3% in the second quarter. Teacher Retirement System of Texas now owns 6,500 shares of the company’s stock valued at $147,000 after buying an additional 605 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in Tallgrass Energy GP by 0.3% in the second quarter. Duff & Phelps Investment Management Co. now owns 390,100 shares of the company’s stock valued at $8,805,000 after buying an additional 1,100 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Tallgrass Energy GP by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 22,648 shares of the company’s stock valued at $511,000 after buying an additional 1,139 shares during the period.

Tallgrass Energy GP (NYSE:TEGP) traded down 0.12% during trading on Wednesday, hitting $24.67. The company had a trading volume of 56,148 shares. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 35.55 and a beta of 2.28. Tallgrass Energy GP has a 1-year low of $9.66 and a 1-year high of $26.81. The company’s 50 day moving average price is $23.90 and its 200-day moving average price is $22.43.

Tallgrass Energy GP (NYSE:TEGP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.16. Tallgrass Energy GP had a return on equity of 2.05% and a net margin of 5.70%. On average, analysts expect that Tallgrass Energy GP will post $0.45 EPS for the current year.

Tallgrass Energy GP Company Profile

Tallgrass Energy GP, LP is a limited partnership company. The Company, through Tallgrass Energy Partners, LP (TEP), provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions through Pony Express. Its business segments include Crude Oil Transportation & Logistics Segment, which is engaged in the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics Segment, which is engaged in ownership and operation of FERC-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics Segment, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquids (NGL).

5 Day Chart for NYSE:TEGP

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