Tallgrass Energy LP (TGE) Major Shareholder Buys $7,341,649.92 in Stock

Tallgrass Energy LP (NYSE:TGE) major shareholder Infrastructure Asso Blackstone bought 308,992 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was purchased at an average price of $23.76 per share, for a total transaction of $7,341,649.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Infrastructure Asso Blackstone also recently made the following trade(s):

  • On Thursday, April 11th, Infrastructure Asso Blackstone bought 79,534 shares of Tallgrass Energy stock. The stock was purchased at an average price of $24.49 per share, for a total transaction of $1,947,787.66.

Tallgrass Energy stock opened at $25.09 on Tuesday. The company has a market capitalization of $7.04 billion, a PE ratio of 19.76 and a beta of 0.96. Tallgrass Energy LP has a 1 year low of $19.59 and a 1 year high of $26.35. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.45.

Tallgrass Energy (NYSE:TGE) last released its quarterly earnings results on Friday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The company had revenue of $220.26 million during the quarter, compared to analysts’ expectations of $210.60 million. Tallgrass Energy had a net margin of 17.29% and a return on equity of 6.15%. On average, research analysts forecast that Tallgrass Energy LP will post 1.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 8.45%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 29th. Tallgrass Energy’s payout ratio is 163.78%.

Several institutional investors have recently added to or reduced their stakes in TGE. FTB Advisors Inc. purchased a new stake in shares of Tallgrass Energy in the 4th quarter valued at approximately $30,000. Ffcm LLC purchased a new stake in shares of Tallgrass Energy in the 4th quarter valued at approximately $38,000. Bessemer Group Inc. purchased a new stake in Tallgrass Energy during the 4th quarter worth approximately $45,000. Rare Infrastructure Ltd purchased a new stake in Tallgrass Energy during the 4th quarter worth approximately $51,000. Finally, Private Capital Group LLC purchased a new stake in Tallgrass Energy during the 4th quarter worth approximately $55,000. 49.82% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have weighed in on the stock. Goldman Sachs Group lowered shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Tuesday, April 2nd. TheStreet upgraded shares of Tallgrass Energy from a “c” rating to a “b-” rating in a report on Thursday, April 4th. Zacks Investment Research upgraded shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Saturday, January 19th. US Capital Advisors reiterated a “hold” rating on shares of Tallgrass Energy in a report on Wednesday, January 16th. Finally, Credit Suisse Group lowered shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $25.00 in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Tallgrass Energy has a consensus rating of “Hold” and a consensus price target of $25.38.

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About Tallgrass Energy

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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