Tallgrass Energy LP (NYSE:TGE) has earned an average recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $26.00.
TGE has been the subject of several research analyst reports. ValuEngine raised shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Stifel Nicolaus lifted their price target 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. Zacks Investment Research raised shares of Tallgrass Energy from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research note on Tuesday, July 10th. Barclays initiated coverage on shares of Tallgrass Energy in a research note on Thursday, August 16th. They issued an “equal weight” rating and a $26.00 price target for the company. They noted that the move was a valuation call. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of Tallgrass Energy in a research note on Tuesday, July 17th.
TGE traded down $0.54 during midday trading on Thursday, hitting $25.70. The company had a trading volume of 1,040,100 shares, compared to its average volume of 804,999. Tallgrass Energy has a 52 week low of $17.14 and a 52 week high of $28.94. The company has a current ratio of 0.66, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The company has a market cap of $3.96 billion, a P/E ratio of 34.20 and a beta of 1.90.
Tallgrass Energy (NYSE:TGE) last posted 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). Tallgrass Energy had a negative net margin of 18.21% and a positive return on equity of 2.03%. The company had revenue of $193.59 million during the quarter, compared to the consensus estimate of $200.50 million. research analysts forecast that Tallgrass Energy will post 1.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, July 31st were issued a dividend of $0.4975 per share. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.49. This represents a $1.99 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date of this dividend was Monday, July 30th. Tallgrass Energy’s dividend payout ratio (DPR) is currently 261.84%.
Several hedge funds and other institutional investors have recently modified their holdings of TGE. Spirit of America Management Corp NY acquired a new position in shares of Tallgrass Energy during the second quarter valued at about $275,000. Walnut Private Equity Partners LLC acquired a new position in shares of Tallgrass Energy during the second quarter valued at about $1,611,000. Stokes Capital Advisors LLC acquired a new position in shares of Tallgrass Energy during the second quarter valued at about $298,000. Bank of Montreal Can acquired a new position in shares of Tallgrass Energy during the second quarter valued at about $186,000. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of Tallgrass Energy during the second quarter valued at about $17,932,000. Hedge funds and other institutional investors own 39.23% 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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