Barclays initiated coverage on shares of Tallgrass Energy (NYSE:TGE) in a report published on Thursday, MarketBeat.com reports. The firm issued an equal weight rating and a $26.00 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently weighed in on TGE. ValuEngine upgraded shares of Tallgrass Energy from a sell rating to a hold rating in a research note on Friday, August 3rd. Stifel Nicolaus boosted their target price on shares of Tallgrass Energy from $23.00 to $26.00 and gave the company a buy rating in a research note on Monday, August 6th. US Capital Advisors reiterated a hold rating on shares of Tallgrass Energy in a research note on Tuesday, July 17th. TheStreet upgraded shares of Tallgrass Energy from a d+ rating to a c- rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Tallgrass Energy from a hold rating to a strong-buy rating and set a $26.00 target price on the stock in a research note on Tuesday, July 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $26.00.
Tallgrass Energy stock opened at $25.60 on Thursday. Tallgrass Energy has a fifty-two week low of $17.14 and a fifty-two week high of $28.94. The stock has a market cap of $3.83 billion, a P/E ratio of 33.68 and a beta of 1.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.66.
Tallgrass Energy (NYSE:TGE) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). The firm had revenue of $193.59 million for the quarter, compared to analysts’ expectations of $200.50 million. Tallgrass Energy had a positive return on equity of 2.03% and a negative net margin of 18.21%. research analysts anticipate that Tallgrass Energy will post 1.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, July 31st were paid a $0.4975 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 7.77%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, July 30th. Tallgrass Energy’s payout ratio is presently 261.84%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eagle Ridge Investment Management bought a new stake in shares of Tallgrass Energy in the second quarter valued at approximately $232,000. Walnut Private Equity Partners LLC bought a new stake in shares of Tallgrass Energy in the second quarter valued at approximately $1,611,000. Alps Advisors Inc. bought a new stake in shares of Tallgrass Energy in the second quarter valued at approximately $1,535,000. Miller Howard Investments Inc. NY bought a new stake in shares of Tallgrass Energy in the second quarter valued at approximately $17,932,000. Finally, Ballentine Partners LLC bought a new stake in shares of Tallgrass Energy in the second quarter valued at approximately $494,000. Hedge funds and other institutional investors own 39.37% of the company’s stock.
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.
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