Wall Street brokerages expect Tallgrass Energy LP (NYSE:TGE) to announce sales of $221.20 million for the current quarter, according to Zacks. Two analysts have made estimates for Tallgrass Energy’s earnings. The highest sales estimate is $228.80 million and the lowest is $213.60 million. Tallgrass Energy reported sales of $220.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.4%. The business is scheduled to announce its next quarterly earnings results on Friday, February 14th.

On average, analysts expect that Tallgrass Energy will report full year sales of $860.20 million for the current fiscal year, with estimates ranging from $849.20 million to $871.20 million. For the next financial year, analysts expect that the firm will post sales of $850.35 million, with estimates ranging from $786.20 million to $914.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Tallgrass Energy.

Tallgrass Energy (NYSE:TGE) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Tallgrass Energy had a net margin of 29.74% and a return on equity of 11.24%. The firm had revenue of $226.71 million during the quarter, compared to the consensus estimate of $229.80 million.

A number of analysts recently commented on TGE shares. Scotiabank started coverage on shares of Tallgrass Energy in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $19.50 price objective for the company. ValuEngine cut shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Bank of America upgraded shares of Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 29th. Stifel Nicolaus cut shares of Tallgrass Energy from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Friday, October 11th. Finally, TheStreet cut shares of Tallgrass Energy from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.40.

TGE opened at $17.77 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 1.53. Tallgrass Energy has a 12 month low of $14.28 and a 12 month high of $25.96. The company has a fifty day simple moving average of $18.46 and a 200 day simple moving average of $20.01. The stock has a market cap of $5.00 billion, a P/E ratio of 13.99 and a beta of 0.66.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date of this dividend was Wednesday, October 30th. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.54. Tallgrass Energy’s dividend payout ratio is 173.23%.

A number of hedge funds have recently added to or reduced their stakes in TGE. First Trust Advisors LP bought a new position in Tallgrass Energy during the 1st quarter worth about $452,000. Amundi Pioneer Asset Management Inc. bought a new position in Tallgrass Energy during the 1st quarter worth about $11,580,000. Commonwealth Equity Services LLC increased its holdings in Tallgrass Energy by 14.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,404 shares of the company’s stock worth $515,000 after purchasing an additional 3,161 shares in the last quarter. Creative Planning increased its holdings in Tallgrass Energy by 1.7% during the 2nd quarter. Creative Planning now owns 80,308 shares of the company’s stock worth $1,695,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. increased its holdings in Tallgrass Energy by 11.4% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 9,800 shares of the company’s stock worth $207,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 55.04% of the company’s stock.

Tallgrass Energy Company Profile

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

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Earnings History and Estimates for Tallgrass Energy (NYSE:TGE)

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