Barclays downgraded shares of Tallgrass Energy GP (NYSE:TEGP) from an overweight rating to an equal weight rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has $25.00 target price on the pipeline company’s stock, down from their previous target price of $30.00.

A number of other brokerages have also recently issued reports on TEGP. Credit Suisse Group initiated coverage on Tallgrass Energy GP in a research report on Thursday, January 4th. They set an underperform rating and a $21.00 target price for the company. Robert W. Baird reaffirmed a buy rating and set a $32.00 target price on shares of Tallgrass Energy GP in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a buy rating and set a $31.00 target price on shares of Tallgrass Energy GP in a research report on Sunday, October 29th. BidaskClub cut Tallgrass Energy GP from a hold rating to a sell rating in a research report on Saturday, October 21st. Finally, Morgan Stanley decreased their target price on Tallgrass Energy GP from $30.00 to $29.00 and set an equal weight rating for the company in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Tallgrass Energy GP has a consensus rating of Hold and a consensus price target of $28.78.

Tallgrass Energy GP (TEGP) opened at $22.56 on Monday. Tallgrass Energy GP has a twelve month low of $21.66 and a twelve month high of $29.50. The company has a market capitalization of $3,581.69, a P/E ratio of 28.20, a P/E/G ratio of 2.74 and a beta of 1.75. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 6.52%. This is a boost from Tallgrass Energy GP’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, January 30th. Tallgrass Energy GP’s dividend payout ratio is currently 183.75%.

Several institutional investors and hedge funds have recently bought and sold shares of TEGP. Wells Fargo & Company MN boosted its position in shares of Tallgrass Energy GP by 117.2% in the second quarter. Wells Fargo & Company MN now owns 111,071 shares of the pipeline company’s stock valued at $2,825,000 after acquiring an additional 59,925 shares during the period. Vanguard Group Inc. boosted its position in shares of Tallgrass Energy GP by 2.2% in the second quarter. Vanguard Group Inc. now owns 194,481 shares of the pipeline company’s stock valued at $4,946,000 after acquiring an additional 4,099 shares during the period. California Public Employees Retirement System boosted its position in shares of Tallgrass Energy GP by 2.2% in the second quarter. California Public Employees Retirement System now owns 136,700 shares of the pipeline company’s stock valued at $3,476,000 after acquiring an additional 3,000 shares during the period. Virtu KCG Holdings LLC bought a new stake in shares of Tallgrass Energy GP in the second quarter valued at approximately $325,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tallgrass Energy GP by 5.1% in the second quarter. Goldman Sachs Group Inc. now owns 163,071 shares of the pipeline company’s stock valued at $4,147,000 after acquiring an additional 7,985 shares during the period. 36.25% of the stock is owned by institutional investors.

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About Tallgrass Energy GP

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

Analyst Recommendations for Tallgrass Energy GP (NYSE:TEGP)

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