BidaskClub lowered shares of Tallgrass Energy GP, LP (NYSE:TEGP) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Tallgrass Energy GP, from a hold rating to a strong-buy rating and set a $28.00 price objective for the company in a report on Friday, June 16th. Scotiabank set a $28.00 price objective on shares of Tallgrass Energy GP, and gave the company a hold rating in a report on Saturday, July 22nd. Macquarie started coverage on shares of Tallgrass Energy GP, in a report on Friday, April 21st. They issued an outperform rating and a $32.00 price objective for the company. TheStreet upgraded shares of Tallgrass Energy GP, from an e+ rating to a c rating in a report on Wednesday, May 17th. Finally, Morgan Stanley restated an equal weight rating and issued a $29.00 price objective (up previously from $28.00) on shares of Tallgrass Energy GP, in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $29.78.

Shares of Tallgrass Energy GP, (TEGP) traded down 1.26% during trading on Wednesday, reaching $24.21. 186,733 shares of the company’s stock were exchanged. The stock has a market cap of $1.41 billion, a P/E ratio of 35.81 and a beta of 2.17. The company has a 50 day moving average of $25.37 and a 200 day moving average of $26.66. Tallgrass Energy GP, has a 12-month low of $21.74 and a 12-month high of $29.50.

Tallgrass Energy GP, (NYSE:TEGP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $160.86 million during the quarter, compared to analyst estimates of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. Equities research analysts anticipate that Tallgrass Energy GP, will post $0.94 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Wednesday, July 26th. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. Tallgrass Energy GP,’s payout ratio is 201.47%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA purchased a new position in Tallgrass Energy GP, during the first quarter valued at approximately $115,000. SG Americas Securities LLC purchased a new position in Tallgrass Energy GP, during the first quarter valued at approximately $119,000. Summit Asset Management LLC purchased a new position in Tallgrass Energy GP, during the first quarter valued at approximately $201,000. Proficio Capital Partners LLC boosted its position in Tallgrass Energy GP, by 18.5% in the second quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock valued at $235,000 after buying an additional 1,428 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in Tallgrass Energy GP, during the first quarter valued at approximately $329,000.

Tallgrass Energy GP, Company Profile

Analyst Recommendations for Tallgrass Energy GP, (NYSE:TEGP)

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