HITE Hedge Asset Management LLC raised its stake in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,830 shares of the pipeline company’s stock after buying an additional 15,256 shares during the period. Tallgrass Energy GP, accounts for about 0.9% of HITE Hedge Asset Management LLC’s holdings, making the stock its 26th largest position. HITE Hedge Asset Management LLC owned approximately 0.18% of Tallgrass Energy GP, worth $2,640,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. MAI Capital Management raised its position in shares of Tallgrass Energy GP, by 25.0% in the second quarter. MAI Capital Management now owns 32,707 shares of the pipeline company’s stock valued at $832,000 after buying an additional 6,543 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Tallgrass Energy GP, during the second quarter valued at about $497,000. Proficio Capital Partners LLC raised its position in shares of Tallgrass Energy GP, by 18.5% in the second quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock valued at $235,000 after buying an additional 1,428 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Tallgrass Energy GP, by 8.8% in the second quarter. Alps Advisors Inc. now owns 209,549 shares of the pipeline company’s stock valued at $5,329,000 after buying an additional 16,911 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of Tallgrass Energy GP, by 8.9% in the second quarter. Catalyst Capital Advisors LLC now owns 241,898 shares of the pipeline company’s stock valued at $6,151,000 after buying an additional 19,678 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Tallgrass Energy GP, LP (NYSE:TEGP) traded up 0.24% during trading on Friday, reaching $25.14. 8,386 shares of the company’s stock traded hands. The company has a 50 day moving average price of $25.24 and a 200-day moving average price of $26.46. The company has a market cap of $1.46 billion, a PE ratio of 37.19 and a beta of 2.17. Tallgrass Energy GP, LP has a 12-month low of $21.74 and a 12-month high of $29.50.

Tallgrass Energy GP, (NYSE:TEGP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. Tallgrass Energy GP, had a return on equity of 2.01% and a net margin of 5.91%. The firm had revenue of $160.86 million for the quarter, compared to analyst estimates of $166.78 million. On average, equities research analysts forecast that Tallgrass Energy GP, LP will post $0.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 28th were given a dividend of $0.3425 per share. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Wednesday, July 26th. Tallgrass Energy GP,’s payout ratio is presently 201.47%.

WARNING: “Tallgrass Energy GP, LP (TEGP) Shares Bought by HITE Hedge Asset Management LLC” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/25/tallgrass-energy-gp-lp-tegp-shares-bought-by-hite-hedge-asset-management-llc.html.

Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price objective on shares of Tallgrass Energy GP, in a report on Friday, August 18th. Zacks Investment Research lowered shares of Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC lifted their price objective on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $30.00 price objective on shares of Tallgrass Energy GP, in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.78.

Tallgrass Energy GP, Company Profile

Institutional Ownership by Quarter for Tallgrass Energy GP, (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.