$0.43 Earnings Per Share Expected for Tallgrass Energy LP (TGE) This Quarter

Equities analysts expect Tallgrass Energy LP (NYSE:TGE) to announce $0.43 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Tallgrass Energy’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.44. Tallgrass Energy posted earnings per share of $0.29 in the same quarter last year, which suggests a positive year-over-year growth rate of 48.3%. The firm is expected to issue its next earnings results on Thursday, May 2nd.

On average, analysts expect that Tallgrass Energy will report full year earnings of $1.82 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.87. For the next year, analysts expect that the firm will report earnings of $1.48 per share, with EPS estimates ranging from $1.17 to $1.73. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Tallgrass Energy.

Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings data on Friday, February 8th. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.04). The firm had revenue of $220.26 million during the quarter, compared to the consensus estimate 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 topic of a number of recent research reports. Zacks Investment Research upgraded Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Saturday, January 19th. Credit Suisse Group lowered Tallgrass Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $25.00 in a research report on Thursday, February 21st. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Finally, Bank of America assumed coverage on Tallgrass Energy in a research report on Friday, January 11th. They issued an “underperform” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.50.

In other Tallgrass Energy news, Director John T. Raymond sold 46,386,232 shares of Tallgrass Energy stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.52, for a total value of $487,983,160.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III purchased 284,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $24.07 per share, for a total transaction of $6,847,915.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 679,417 shares of company stock worth $16,255,524 and have sold 46,405,689 shares worth $488,446,299. Insiders own 28.59% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGE. Tortoise Capital Advisors L.L.C. bought a new position in Tallgrass Energy during the fourth quarter worth about $584,470,000. Alps Advisors Inc. acquired a new position in Tallgrass Energy during the fourth quarter valued at approximately $359,154,000. Kayne Anderson Capital Advisors LP acquired a new position in Tallgrass Energy during the fourth quarter valued at approximately $214,734,000. Jennison Associates LLC acquired a new position in Tallgrass Energy during the fourth quarter valued at approximately $91,357,000. Finally, RR Advisors LLC acquired a new position in shares of Tallgrass Energy during the fourth quarter worth $77,536,000. 49.82% of the stock is currently owned by hedge funds and other institutional investors.

TGE traded up $0.31 during mid-day trading on Monday, reaching $25.45. The stock had a trading volume of 733,542 shares, compared to its average volume of 1,116,646. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 20.04 and a beta of 0.96. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.59 and a current ratio of 0.67. Tallgrass Energy has a 52 week low of $18.08 and a 52 week high of $26.35.

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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