Neuberger Berman Group LLC trimmed its holdings in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 15.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,573 shares of the pipeline company’s stock after selling 7,330 shares during the period. Neuberger Berman Group LLC owned about 0.07% of Tallgrass Energy GP, worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEGP. Bank of Montreal Can boosted its position in Tallgrass Energy GP, by 0.6% during the first quarter. Bank of Montreal Can now owns 22,158 shares of the pipeline company’s stock valued at $637,000 after buying an additional 126 shares during the period. Wells Fargo & Company MN boosted its position in Tallgrass Energy GP, by 14.4% during the first quarter. Wells Fargo & Company MN now owns 51,146 shares of the pipeline company’s stock valued at $1,471,000 after buying an additional 6,421 shares during the period. US Bancorp DE boosted its position in Tallgrass Energy GP, by 1,480.2% during the first quarter. US Bancorp DE now owns 30,798 shares of the pipeline company’s stock valued at $886,000 after buying an additional 28,849 shares during the period. Bank of New York Mellon Corp boosted its position in Tallgrass Energy GP, by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock valued at $1,655,000 after buying an additional 665 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in Tallgrass Energy GP, during the first quarter valued at about $115,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Several analysts have issued reports on TEGP shares. Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Tallgrass Energy GP, in a research report on Friday, August 18th. Zacks Investment Research lowered shares of Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Morgan Stanley restated an “equal weight” rating and set a $29.00 price target (up from $28.00) on shares of Tallgrass Energy GP, in a research report on Friday, July 14th. Barclays PLC upped their price target on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered shares of Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.78.

Tallgrass Energy GP, LP (NYSE TEGP) opened at 27.79 on Tuesday. The company has a market capitalization of $1.61 billion, a P/E ratio of 41.11 and a beta of 2.16. The stock’s 50 day moving average is $27.25 and its 200 day moving average is $27.43. Tallgrass Energy GP, LP has a 52 week low of $21.74 and a 52 week high of $29.30.

Tallgrass Energy GP, (NYSE:TEGP) last released its quarterly 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 analysts’ expectations of $166.78 million. On average, equities research analysts expect that Tallgrass Energy GP, LP will post $0.92 earnings per share for the current year.

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Tallgrass Energy GP, Company Profile

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Institutional Ownership by Quarter for Tallgrass Energy GP, (NYSE:TEGP)

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