Kayne Anderson Capital Advisors LP lowered its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,356,872 shares of the pipeline company’s stock after selling 57,000 shares during the period. Tallgrass Energy GP, makes up approximately 1.9% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 17th biggest holding. Kayne Anderson Capital Advisors LP owned about 3.41% of Tallgrass Energy GP, worth $151,320,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Tallgrass Energy GP, by 3.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,200,216 shares of the pipeline company’s stock valued at $30,521,000 after purchasing an additional 34,654 shares during the period. Financial Counselors Inc. increased its holdings in shares of Tallgrass Energy GP, by 23.9% in the second quarter. Financial Counselors Inc. now owns 96,957 shares of the pipeline company’s stock valued at $2,466,000 after purchasing an additional 18,710 shares during the period. Clinton Group Inc. acquired a new position in shares of Tallgrass Energy GP, in the second quarter valued at approximately $1,249,000. Miller Howard Investments Inc. NY increased its holdings in shares of Tallgrass Energy GP, by 7.1% in the second quarter. Miller Howard Investments Inc. NY now owns 35,428 shares of the pipeline company’s stock valued at $901,000 after purchasing an additional 2,363 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Tallgrass Energy GP, by 117.2% in the second quarter. Wells Fargo & Company MN now owns 111,071 shares of the pipeline company’s stock valued at $2,825,000 after purchasing an additional 59,925 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider David G. Dehaemers, Jr. acquired 5,428 shares of Tallgrass Energy GP, stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Gerke acquired 9,800 shares of Tallgrass Energy GP, stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $25.50 per share, for a total transaction of $249,900.00. The disclosure for this purchase can be found here.

A number of research firms have recently issued reports on TEGP. Zacks Investment Research raised Tallgrass Energy GP, from a “strong sell” rating to a “hold” rating in a report on Thursday, September 21st. BidaskClub lowered Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 target price on shares of Tallgrass Energy GP, in a report on Sunday, October 29th. Morgan Stanley dropped their price objective on Tallgrass Energy GP, from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $30.00 price objective on shares of Tallgrass Energy GP, in a report on Monday, July 31st. Three 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’s stock. Tallgrass Energy GP, has an average rating of “Hold” and an average target price of $30.11.

Tallgrass Energy GP, LP (NYSE TEGP) traded down $0.44 on Wednesday, reaching $22.92. The company’s stock had a trading volume of 194,500 shares, compared to its average volume of 203,889. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.50 and a current ratio of 0.55. The stock has a market capitalization of $3,672.88, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 2.98 and a beta of 2.08. Tallgrass Energy GP, LP has a one year low of $22.38 and a one year high of $29.50.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 6.20%. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, October 30th. Tallgrass Energy GP,’s payout ratio is presently 171.25%.

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Tallgrass Energy GP, Company Profile

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

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