Wall Street brokerages forecast that Tallgrass Energy LP (NYSE:TGE) will announce $0.43 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Tallgrass Energy’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.42. Tallgrass Energy posted earnings per share of $0.29 during the same quarter last year, which suggests a positive year over year growth rate of 48.3%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, May 7th.
According to Zacks, analysts expect that Tallgrass Energy will report full-year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.85. For the next year, analysts anticipate that the business will post earnings of $1.36 per share, with EPS estimates ranging from $1.17 to $1.54. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Tallgrass Energy.
Tallgrass Energy (NYSE:TGE) last announced its earnings results on Friday, February 8th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.04). The firm had revenue of $220.26 million during the quarter, compared to analyst estimates of $210.60 million. Tallgrass Energy had a net margin of 17.29% and a return on equity of 6.15%.
TGE has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Saturday, January 19th. Credit Suisse Group downgraded shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $25.00 in a research note on Thursday, February 21st. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research note on Wednesday, January 16th. Goldman Sachs Group downgraded shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded shares of Tallgrass Energy from a “c” rating to a “b-” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.38.
In other Tallgrass Energy news, major shareholder Infrastructure Asso Blackstone bought 79,534 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average cost of $24.49 per share, for a total transaction of $1,947,787.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Private Ltd Gic bought 18,835 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were acquired at an average price of $24.48 per share, with a total value of $461,080.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 777,786 shares of company stock valued at $18,664,392 and have sold 46,405,689 shares valued at $488,446,299. Insiders own 28.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TGE. FTB Advisors Inc. purchased a new position in Tallgrass Energy in the fourth quarter valued at $30,000. Ffcm LLC purchased a new position in Tallgrass Energy in the fourth quarter valued at $38,000. Bessemer Group Inc. purchased a new position in Tallgrass Energy in the fourth quarter valued at $45,000. Rare Infrastructure Ltd purchased a new position in Tallgrass Energy in the fourth quarter valued at $51,000. Finally, Private Capital Group LLC purchased a new position in Tallgrass Energy in the fourth quarter valued at $55,000. Institutional investors own 49.93% of the company’s stock.
Shares of TGE opened at $24.56 on Wednesday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 19.34 and a beta of 0.96. Tallgrass Energy has a twelve month low of $19.59 and a twelve month high of $26.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.67 and a quick ratio of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, April 29th. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 8.63%. Tallgrass Energy’s payout ratio is currently 163.78%.
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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