Tallgrass Energy GP LP (NYSE:TEGP) major shareholder Kelso Gp Viii, Llc sold 5,058,497 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $21.85, for a total transaction of $110,528,159.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of Tallgrass Energy GP LP (NYSE:TEGP) opened at 24.22 on Friday. Tallgrass Energy GP LP has a 1-year low of $9.66 and a 1-year high of $27.29. The stock has a market capitalization of $1.16 billion, a P/E ratio of 32.34 and a beta of 2.24. The firm’s 50-day moving average is $24.30 and its 200 day moving average is $23.82.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a dividend of $0.2625 per share. This is a boost from Tallgrass Energy GP’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Thursday, October 27th. Tallgrass Energy GP’s dividend payout ratio (DPR) is currently 140.00%.

A number of research firms have recently weighed in on TEGP. Credit Suisse Group AG set a $28.00 price objective on shares of Tallgrass Energy GP and gave the company a “buy” rating in a research report on Saturday, August 6th. Zacks Investment Research lowered shares of Tallgrass Energy GP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC boosted their price objective on shares of Tallgrass Energy GP from $23.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.75.

Hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of 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 last quarter. Van ECK Associates Corp raised its position in shares of 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 last quarter. Teacher Retirement System of Texas raised its position in shares of 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 last quarter. BlackRock Group LTD raised its position in shares of Tallgrass Energy GP by 4.0% in the third quarter. BlackRock Group LTD now owns 21,703 shares of the company’s stock valued at $522,000 after buying an additional 837 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of 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 last quarter.

WARNING: “Kelso Gp Viii, Llc Sells 5,058,497 Shares of Tallgrass Energy GP LP (TEGP) Stock” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/25/kelso-gp-viii-llc-sells-5058497-shares-of-tallgrass-energy-gp-lp-tegp-stock.html.

About Tallgrass Energy GP

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.