Morgan Stanley Trims Tallgrass Energy GP, LP (TEGP) Target Price to $29.00
Tallgrass Energy GP, LP (NYSE:TEGP) had its target price decreased by Morgan Stanley from $30.00 to $29.00 in a report issued on Friday morning. Morgan Stanley currently has an equal weight rating on the pipeline company’s stock.
Other equities analysts also recently issued reports about the company. Stifel Nicolaus reiterated a buy rating and set a $31.00 target price on shares of Tallgrass Energy GP, in a research report on Friday, August 18th. Zacks Investment Research downgraded Tallgrass Energy GP, from a buy rating to a hold rating in a research report on Wednesday, July 26th. Robert W. Baird reiterated a buy rating and set a $32.00 target price on shares of Tallgrass Energy GP, in a research report on Tuesday, September 26th. Barclays PLC lifted their target price on 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 downgraded Tallgrass Energy GP, from a hold rating to a sell rating in a research report on Saturday, October 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Tallgrass Energy GP, presently has an average rating of Hold and an average target price of $30.11.
Tallgrass Energy GP, (TEGP) opened at $23.36 on Friday. The firm has a market capitalization of $3,663.45, a price-to-earnings ratio of 29.13, a P/E/G ratio of 2.98 and a beta of 2.08. 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, has a 52-week low of $22.38 and a 52-week high of $29.50.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.355 per share. The ex-dividend date was Monday, October 30th. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. This represents a $1.42 dividend on an annualized basis and a yield of 6.08%. Tallgrass Energy GP,’s dividend payout ratio (DPR) is currently 171.25%.
In other Tallgrass Energy GP, news, Director Thomas A. Gerke purchased 9,800 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David G. Dehaemers, Jr. purchased 5,428 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were 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.
Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Tallgrass Energy GP, by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after acquiring an additional 330 shares during the period. Tiedemann Wealth Management LLC bought a new stake in Tallgrass Energy GP, during the third quarter valued at about $148,000. Cubist Systematic Strategies LLC increased its holdings 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 purchasing an additional 5,554 shares during the last quarter. Summit Asset Management LLC bought a new stake in shares of Tallgrass Energy GP, in the third quarter worth about $215,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Tallgrass Energy GP, in the second quarter worth about $219,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.
Tallgrass Energy GP, Company Profile
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