Tallgrass Energy LP (NYSE:TGE) Major Shareholder Buys $461,080.80 in Stock

Tallgrass Energy LP (NYSE:TGE) major shareholder Private Ltd Gic purchased 18,835 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was bought at an average cost of $24.48 per share, for a total transaction of $461,080.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Private Ltd Gic also recently made the following trade(s):

  • On Friday, April 26th, Private Ltd Gic bought 89,984 shares of Tallgrass Energy stock. The shares were purchased at an average cost of $24.46 per share, for a total transaction of $2,201,008.64.
  • On Friday, March 15th, Private Ltd Gic bought 85,225 shares of Tallgrass Energy stock. The shares were purchased at an average cost of $24.04 per share, for a total transaction of $2,048,809.00.

Shares of Tallgrass Energy stock traded up $0.23 on Friday, hitting $24.05. 769,707 shares of the company traded hands, compared to its average volume of 1,003,891. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.45. Tallgrass Energy LP has a 12-month low of $19.77 and a 12-month high of $26.35. The stock has a market cap of $6.74 billion, a P/E ratio of 18.94 and a beta of 0.93.

Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings results on Friday, February 8th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.04). The company had revenue of $220.26 million for 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, equities research analysts expect that Tallgrass Energy LP will post 1.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.53 dividend. The ex-dividend date is Monday, April 29th. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 8.81%. Tallgrass Energy’s dividend payout ratio is currently 166.93%.

Several analysts have issued reports on TGE shares. Bank of America started coverage on shares of Tallgrass Energy in a research note on Friday, January 11th. They set an “underperform” rating and a $22.00 target price on the stock. US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a research note on Wednesday, January 16th. Zacks Investment Research upgraded shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Saturday, January 19th. Credit Suisse Group cut shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $25.00 in a report on Thursday, February 21st. Finally, Goldman Sachs Group cut shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $25.38.

A number of large investors have recently modified their holdings of the stock. Stokes Capital Advisors LLC bought a new stake in Tallgrass Energy in the first quarter worth $425,000. Stephens Inc. AR boosted its holdings in Tallgrass Energy by 8.6% in the first quarter. Stephens Inc. AR now owns 26,281 shares of the company’s stock worth $661,000 after purchasing an additional 2,077 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Tallgrass Energy by 5.6% in the first quarter. California Public Employees Retirement System now owns 286,293 shares of the company’s stock worth $7,197,000 after purchasing an additional 15,255 shares in the last quarter. Groesbeck Investment Management Corp NJ bought a new stake in Tallgrass Energy in the first quarter worth $3,720,000. Finally, Hourglass Capital LLC boosted its holdings in Tallgrass Energy by 31.5% in the first quarter. Hourglass Capital LLC now owns 10,860 shares of the company’s stock worth $273,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 49.78% of the company’s stock.

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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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Insider Buying and Selling by Quarter for Tallgrass Energy (NYSE:TGE)

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