Todays Report: The Tallgrass Energy GP LP (NYSE:TEGP) Given Average Recommendation of “Buy” from Brokerages

The Tallgrass Energy GP LP (NYSE:TEGP) Given Average Recommendation of “Buy” from Brokerages

Shares of Tallgrass Energy GP LP (NYSE:TEGP) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.67.

A number of research analysts have recently commented on TEGP shares. Credit Suisse Group AG set a $28.00 target price on Tallgrass Energy GP and gave the company a “buy” rating in a research note on Saturday, August 6th. Zacks Investment Research cut Tallgrass Energy GP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Barclays PLC increased their price objective on Tallgrass Energy GP from $23.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th.

Shares of Tallgrass Energy GP (NYSE:TEGP) traded down 0.12% on Wednesday, reaching $24.67. The company’s stock had a trading volume of 56,148 shares. Tallgrass Energy GP has a one year low of $9.66 and a one year high of $26.81. The firm has a 50-day moving average price of $23.90 and a 200 day moving average price of $22.43. The firm has a market capitalization of $1.18 billion, a PE ratio of 35.55 and a beta of 2.28.

Tallgrass Energy GP (NYSE:TEGP) last released its earnings results on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.16. Tallgrass Energy GP had a net margin of 5.70% and a return on equity of 2.05%. On average, analysts anticipate that Tallgrass Energy GP will post $0.45 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in Tallgrass Energy GP by 10.3% in the second quarter. Teacher Retirement System of Texas now owns 6,500 shares of the company’s stock valued at $147,000 after buying an additional 605 shares during the period. Acrospire Investment Management LLC increased its position in Tallgrass Energy GP by 210.8% in the second quarter. Acrospire Investment Management LLC now owns 9,436 shares of the company’s stock valued at $213,000 after buying an additional 6,400 shares during the period. Texas Yale Capital Corp. acquired a new position in Tallgrass Energy GP during the second quarter valued at approximately $214,000. BlackRock Fund Advisors increased its position in Tallgrass Energy GP by 14.6% in the first quarter. BlackRock Fund Advisors now owns 11,963 shares of the company’s stock valued at $221,000 after buying an additional 1,520 shares during the period. Finally, Limestone Value Partners LLC acquired a new position in Tallgrass Energy GP during the second quarter valued at approximately $232,000.

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