Global X Management Co. LLC raised its holdings in shares of Tallgrass Energy GP LP (NYSE:TEGP) by 15.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 612,313 shares of the pipeline company’s stock after purchasing an additional 83,745 shares during the quarter. Global X Management Co. LLC’s holdings in Tallgrass Energy GP were worth $15,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in Tallgrass Energy GP by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 330 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Tallgrass Energy GP by 7.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,577 shares of the pipeline company’s stock valued at $447,000 after purchasing an additional 1,150 shares during the last quarter. Heronetta Management L.P. lifted its holdings in Tallgrass Energy GP by 5.8% during the 3rd quarter. Heronetta Management L.P. now owns 45,600 shares of the pipeline company’s stock valued at $1,288,000 after purchasing an additional 2,500 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Tallgrass Energy GP by 1.9% during the 4th quarter. California Public Employees Retirement System now owns 141,000 shares of the pipeline company’s stock valued at $3,629,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Financial Counselors Inc. lifted its holdings in Tallgrass Energy GP by 3.2% during the 3rd quarter. Financial Counselors Inc. now owns 100,035 shares of the pipeline company’s stock valued at $2,826,000 after purchasing an additional 3,078 shares during the last quarter. 36.25% of the stock is owned by institutional investors and hedge funds.

Shares of Tallgrass Energy GP LP (NYSE:TEGP) opened at $22.49 on Thursday. Tallgrass Energy GP LP has a twelve month low of $21.66 and a twelve month high of $29.50. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3,633.57, a price-to-earnings ratio of 30.41, a PEG ratio of 2.92 and a beta of 1.76.

Tallgrass Energy GP (NYSE:TEGP) last posted its earnings results on Tuesday, February 13th. The pipeline company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). Tallgrass Energy GP had a positive return on equity of 2.39% and a negative net margin of 19.63%. The firm had revenue of $174.77 million for the quarter, compared to analyst estimates of $187.26 million. research analysts forecast that Tallgrass Energy GP LP will post 0.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.54%. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.36. Tallgrass Energy GP’s dividend payout ratio (DPR) is currently -66.22%.

Several brokerages have issued reports on TEGP. Zacks Investment Research downgraded Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a report on Wednesday. Stifel Nicolaus set a $25.00 price target on Tallgrass Energy GP and gave the company a “buy” rating in a report on Wednesday. Barclays downgraded Tallgrass Energy GP from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $30.00 to $25.00 in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and set a $36.00 price target on shares of Tallgrass Energy GP in a report on Thursday, February 8th. Finally, Credit Suisse Group began coverage on Tallgrass Energy GP in a report on Thursday, January 4th. They set an “underperform” rating and a $21.00 price target for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Tallgrass Energy GP presently has a consensus rating of “Hold” and a consensus target price of $28.67.

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About Tallgrass Energy GP

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

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

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