Shares of Tallgrass Energy LP (NYSE:TGE) have received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.29.
Several equities research analysts have recently commented on TGE shares. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research note on Wednesday, January 16th. Credit Suisse Group cut Tallgrass Energy from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $25.00 in a research note on Thursday, February 21st. Bank of America started coverage on Tallgrass Energy in a research note on Friday, January 11th. They set an “underperform” rating and a $22.00 price target for the company. TheStreet upgraded Tallgrass Energy from a “c” rating to a “b-” rating in a research note on Thursday, April 4th. Finally, Goldman Sachs Group cut Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a research note on Tuesday, April 2nd.
Tallgrass Energy stock opened at $24.29 on Tuesday. Tallgrass Energy has a 12 month low of $19.59 and a 12 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 company has a market cap of $6.87 billion, a PE ratio of 19.13 and a beta of 0.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.53 dividend. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.12 annualized dividend and a yield of 8.73%. Tallgrass Energy’s dividend payout ratio is presently 163.78%.
In other Tallgrass Energy news, Director John T. Raymond sold 46,386,232 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings L.P. Blackstone III acquired 284,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $24.07 per share, with a total value of $6,847,915.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 952,464 shares of company stock valued at $22,930,528 and sold 46,405,689 shares valued at $488,446,299. Corporate insiders own 28.59% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. FTB Advisors Inc. acquired a new stake in Tallgrass Energy in the fourth quarter valued at $30,000. Lindbrook Capital LLC acquired a new stake in Tallgrass Energy in the first quarter valued at $38,000. Ffcm LLC acquired a new stake in Tallgrass Energy in the fourth quarter valued at $38,000. Bessemer Group Inc. acquired a new stake in Tallgrass Energy in the fourth quarter valued at $45,000. Finally, Rare Infrastructure Ltd acquired a new stake in Tallgrass Energy in the fourth quarter valued at $51,000. 49.93% of the stock is currently owned by institutional investors.
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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