Other research analysts have also issued reports about the stock. Stifel Nicolaus lowered 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 note on Friday, October 11th. Zacks Investment Research lowered shares of Tallgrass Energy from a hold rating to a strong sell rating in a research note on Wednesday, October 2nd. Scotiabank initiated coverage on shares of Tallgrass Energy in a research note on Tuesday, September 3rd. They issued a sector perform rating and a $19.50 price objective for the company. ValuEngine raised shares of Tallgrass Energy from a sell rating to a hold rating in a report on Wednesday, October 16th. Finally, Citigroup downgraded shares of Tallgrass Energy from a buy rating to a neutral rating and cut their price target for the company from $23.00 to $19.50 in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Tallgrass Energy has a consensus rating of Hold and an average target price of $21.73.
NYSE:TGE traded up $0.07 on Tuesday, hitting $18.13. The stock had a trading volume of 2,440,942 shares, compared to its average volume of 1,497,538. The firm’s fifty day simple moving average is $19.33 and its two-hundred day simple moving average is $20.71. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.63 and a current ratio of 0.73. Tallgrass Energy has a 1 year low of $14.28 and a 1 year high of $25.96. The stock has a market cap of $5.08 billion, a P/E ratio of 14.28 and a beta of 0.68.
Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). Tallgrass Energy had a return on equity of 11.24% and a net margin of 29.74%. The company had revenue of $226.71 million for the quarter, compared to analysts’ expectations of $229.80 million. Equities research analysts predict that Tallgrass Energy will post 1.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.55 per share. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.13%. The ex-dividend date of this dividend is Wednesday, October 30th. Tallgrass Energy’s payout ratio is currently 173.23%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Tallgrass Energy by 124,475.5% during the 2nd quarter. Invesco Ltd. now owns 25,063,342 shares of the company’s stock worth $529,087,000 after acquiring an additional 25,043,223 shares during the last quarter. Blackstone Group Inc lifted its holdings in shares of Tallgrass Energy by 5.8% during the 2nd quarter. Blackstone Group Inc now owns 23,652,463 shares of the company’s stock worth $499,303,000 after acquiring an additional 1,305,670 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Tallgrass Energy by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 18,985,835 shares of the company’s stock worth $382,375,000 after acquiring an additional 5,023,031 shares during the last quarter. Energy Income Partners LLC raised its position in Tallgrass Energy by 8.9% in the 2nd quarter. Energy Income Partners LLC now owns 3,613,444 shares of the company’s stock worth $76,280,000 after purchasing an additional 294,468 shares during the period. Finally, Brookfield Asset Management Inc. raised its position in Tallgrass Energy by 29.8% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,659,874 shares of the company’s stock worth $35,040,000 after purchasing an additional 381,512 shares during the period. 55.20% of the stock is owned by institutional investors.
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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