Bank of Montreal Can purchased a new position in Tallgrass Energy LP (NYSE:TGE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,376 shares of the company’s stock, valued at approximately $186,000.

Several other institutional investors have also recently added to or reduced their stakes in TGE. Spirit of America Management Corp NY bought a new position in shares of Tallgrass Energy in the second quarter worth $275,000. Stokes Capital Advisors LLC purchased a new position in Tallgrass Energy in the second quarter worth $298,000. Finally, Walnut Private Equity Partners LLC purchased a new position in Tallgrass Energy in the second quarter worth $1,611,000. 42.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TGE opened at $25.60 on Wednesday. Tallgrass Energy LP has a 52-week low of $17.14 and a 52-week high of $28.94. The firm has a market capitalization of $4.05 billion, a P/E ratio of 33.68 and a beta of 1.90. The company has a quick ratio of 0.60, a current ratio of 0.66 and a debt-to-equity ratio of 1.14.

Tallgrass Energy (NYSE:TGE) last announced its earnings results on Thursday, August 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). Tallgrass Energy had a positive return on equity of 2.03% and a negative net margin of 18.21%. The company had revenue of $193.59 million during the quarter, compared to analysts’ expectations of $200.50 million. sell-side analysts predict that Tallgrass Energy LP will post 1.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, July 31st were given a dividend of $0.4975 per share. This represents a $1.99 annualized dividend and a yield of 7.77%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, July 30th. Tallgrass Energy’s dividend payout ratio is presently 261.84%.

Several research analysts recently issued reports on TGE shares. ValuEngine upgraded shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Stifel Nicolaus upped their target price on shares of Tallgrass Energy from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Morgan Stanley upped their target price on shares of Tallgrass Energy from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 23rd. Finally, Barclays started coverage on shares of Tallgrass Energy in a research report on Thursday, August 16th. They issued an “equal weight” rating and a $26.00 target price for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Tallgrass Energy presently has a consensus rating of “Hold” and an average target price of $26.00.

Tallgrass Energy Company Profile

Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.

Read More: Analyst Ratings

Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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