Dividend Assets Capital LLC grew its holdings in Tallgrass Energy GP, LP (NYSE:TEGP) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 750,564 shares of the pipeline company’s stock after purchasing an additional 5,188 shares during the quarter. Dividend Assets Capital LLC owned 0.48% of Tallgrass Energy GP, worth $21,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Global X MANAGEMENT CO LLC lifted its stake in Tallgrass Energy GP, by 28.9% in the third quarter. Global X MANAGEMENT CO LLC now owns 528,568 shares of the pipeline company’s stock worth $14,932,000 after acquiring an additional 118,595 shares during the last quarter. Heronetta Management L.P. lifted its stake in Tallgrass Energy GP, by 5.8% in the third quarter. Heronetta Management L.P. now owns 45,600 shares of the pipeline company’s stock worth $1,288,000 after acquiring an additional 2,500 shares during the last quarter. First Trust Advisors LP purchased a new position in Tallgrass Energy GP, in the third quarter worth approximately $3,445,000. Spirit of America Management Corp NY lifted its stake in Tallgrass Energy GP, by 26.9% in the third quarter. Spirit of America Management Corp NY now owns 84,878 shares of the pipeline company’s stock worth $2,398,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Tallgrass Energy GP, in the second quarter worth approximately $317,000. 36.64% of the stock is owned by institutional investors and hedge funds.

Tallgrass Energy GP, LP (TEGP) traded down $0.12 during mid-day trading on Monday, reaching $24.83. 102,600 shares of the company’s stock were exchanged, compared to its average volume of 203,366. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18. Tallgrass Energy GP, LP has a 12 month low of $21.87 and a 12 month high of $29.50. The firm has a market capitalization of $3,840.00 and a PE ratio of 31.04.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.355 per share. The ex-dividend date is Monday, October 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.72%. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. Tallgrass Energy GP,’s dividend payout ratio (DPR) is presently 171.25%.

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A number of research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price target on shares of Tallgrass Energy GP, in a research note on Friday, August 18th. Zacks Investment Research downgraded shares of Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Robert W. Baird reiterated a “buy” rating and issued a $32.00 price target on shares of Tallgrass Energy GP, in a research note on Tuesday, September 26th. Barclays PLC lifted 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 note on Friday, August 4th. Finally, BidaskClub upgraded shares of Tallgrass Energy GP, from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.11.

In other Tallgrass Energy GP, news, Director Thomas A. Gerke bought 9,800 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $25.50 per share, with a total value of $249,900.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David G. Dehaemers, Jr. bought 5,428 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $25.04 per share, for a total transaction of $135,917.12. The disclosure for this purchase can be found here.

Tallgrass Energy GP, Profile

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

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