Financial Counselors Inc. lifted its holdings in Tallgrass Energy GP, LP (NYSE:TEGP) by 23.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,957 shares of the pipeline company’s stock after buying an additional 18,710 shares during the quarter. Financial Counselors Inc. owned about 0.17% of Tallgrass Energy GP, worth $2,466,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TEGP. BNP Paribas Arbitrage SA bought a new position in shares of Tallgrass Energy GP, in the first quarter valued at about $115,000. SG Americas Securities LLC bought a new position in shares of Tallgrass Energy GP, in the first quarter valued at about $119,000. Proficio Capital Partners LLC raised its holdings 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. Brookstone Capital Management bought a new position in shares of Tallgrass Energy GP, in the second quarter valued at about $309,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Tallgrass Energy GP, by 10.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,629 shares of the pipeline company’s stock valued at $321,000 after buying an additional 1,188 shares during the last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Tallgrass Energy GP, LP (TEGP) Shares Bought by Financial Counselors Inc.” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/11/tallgrass-energy-gp-lp-tegp-shares-bought-by-financial-counselors-inc.html.

A number of research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price target on shares of Tallgrass Energy GP, in a report on Friday, August 18th. TheStreet upgraded Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Zacks Investment Research lowered Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Barclays PLC lifted their price objective on Tallgrass Energy GP, from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $29.00 price objective (up from $28.00) on shares of Tallgrass Energy GP, in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.78.

Shares of Tallgrass Energy GP, LP (NYSE:TEGP) traded up 0.92% during mid-day trading on Monday, reaching $26.34. The company had a trading volume of 2,969 shares. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 38.96 and a beta of 2.16. The firm’s 50-day moving average price is $25.27 and its 200 day moving average price is $26.38. Tallgrass Energy GP, LP has a 52-week low of $21.74 and a 52-week 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 the consensus estimate of $0.23 by $0.08. The firm had revenue of $160.86 million during the quarter, compared to the consensus estimate of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. Equities analysts expect that Tallgrass Energy GP, LP will post $0.92 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 28th were given a $0.3425 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. This represents a $1.37 annualized dividend and a yield of 5.25%. Tallgrass Energy GP,’s dividend payout ratio (DPR) is currently 201.47%.

Tallgrass Energy GP, Company Profile

Want to see what other hedge funds are holding TEGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy GP, LP (NYSE:TEGP).

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.