Tallgrass Energy LP (NYSE:TGE) major shareholder Enagas U.S.A. Llc acquired 130,320 shares of the stock in a transaction dated Thursday, April 18th. The shares were purchased at an average price of $24.40 per share, for a total transaction of $3,179,808.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of TGE traded down $0.22 on Friday, reaching $24.29. 919,165 shares of the stock traded hands, compared to its average volume of 1,044,512. The stock has a market cap of $6.81 billion, a PE ratio of 19.13 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.45. Tallgrass Energy LP has a 12 month low of $19.59 and a 12 month high of $26.35.
Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.04). The company had revenue of $220.26 million during the quarter, compared to analyst estimates of $210.60 million. Tallgrass Energy had a net margin of 17.29% and a return on equity of 6.15%. Equities analysts forecast that Tallgrass Energy LP will post 1.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.53 dividend. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 29th. This represents a $2.12 annualized dividend and a yield of 8.73%. Tallgrass Energy’s payout ratio is currently 163.78%.
A number of analysts have recently issued reports on the company. Bank of America assumed coverage on Tallgrass Energy in a research report on Friday, January 11th. They set an “underperform” rating and a $22.00 price objective on the stock. TheStreet upgraded Tallgrass Energy from a “c” rating to a “b-” rating in a research report on Thursday, April 4th. Zacks Investment Research cut Tallgrass Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Goldman Sachs Group cut Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Tuesday, April 2nd. Finally, US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.38.
A number of hedge funds have recently made changes to their positions in the stock. FTB Advisors Inc. acquired a new stake in Tallgrass Energy in the 4th quarter valued at $30,000. Ffcm LLC acquired a new stake in Tallgrass Energy in the 4th quarter valued at $38,000. Bessemer Group Inc. acquired a new stake in Tallgrass Energy in the 4th quarter valued at $45,000. Wiley BROS. Aintree Capital LLC boosted its stake in Tallgrass Energy by 5.4% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 39,143 shares of the company’s stock valued at $984,000 after buying an additional 2,014 shares in the last quarter. Finally, Rare Infrastructure Ltd acquired a new stake in Tallgrass Energy in the 4th quarter valued at $51,000. 49.93% of the stock is currently owned by institutional investors and hedge funds.
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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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