BidaskClub upgraded shares of Tallgrass Energy GP, LP (NYSE:TEGP) from a sell rating to a hold rating in a research note released on Friday morning.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $31.00 price target on shares of Tallgrass Energy GP, in a research report on Friday, August 18th. TheStreet upgraded shares of Tallgrass Energy GP, from an e+ rating to a c rating in a research report on Wednesday, May 17th. Zacks Investment Research downgraded shares of Tallgrass Energy GP, from a buy rating to a hold rating in a research report on Wednesday, July 26th. Scotiabank reiterated a hold rating and issued a $28.00 price target on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Finally, Barclays PLC increased their price target on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the stock an overweight rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $29.78.

Shares of Tallgrass Energy GP, (TEGP) traded up 0.80% during trading on Friday, reaching $25.28. The company’s stock had a trading volume of 344,275 shares. Tallgrass Energy GP, has a 12 month low of $21.74 and a 12 month high of $29.50. The firm has a market cap of $1.47 billion, a PE ratio of 37.40 and a beta of 2.17. The stock’s 50 day moving average price is $25.24 and its 200-day moving average price is $26.44.

Tallgrass Energy GP, (NYSE:TEGP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $160.86 million during the quarter, compared to the consensus estimate of $166.78 million. Equities analysts predict that Tallgrass Energy GP, will post $0.96 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 28th were paid a $0.3425 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. 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 5.42%. Tallgrass Energy GP,’s dividend payout ratio is 201.47%.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Tallgrass Energy GP, during the first quarter worth about $115,000. SG Americas Securities LLC purchased a new stake in shares of Tallgrass Energy GP, during the first quarter worth about $119,000. The Manufacturers Life Insurance Company boosted its stake in shares of Tallgrass Energy GP, by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after buying an additional 330 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Tallgrass Energy GP, by 816.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after buying an additional 5,554 shares during the period. Finally, Summit Asset Management LLC purchased a new stake in shares of Tallgrass Energy GP, during the first quarter worth about $201,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Tallgrass Energy GP, Company Profile

Analyst Recommendations for Tallgrass Energy GP, (NYSE:TEGP)

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