Several other equities research analysts have also recently commented on the company. TheStreet raised Tallgrass Energy from a “c” rating to a “b-” rating in a report on Thursday, April 4th. Goldman Sachs Group cut Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Tuesday, April 2nd. Finally, Zacks Investment Research raised Tallgrass Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.88.
NYSE:TGE opened at $20.45 on Monday. Tallgrass Energy has a one year low of $20.05 and a one year high of $26.35. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.71. The firm has a market capitalization of $5.92 billion, a PE ratio of 16.10, a PEG ratio of 2.04 and a beta of 0.87. The firm has a 50 day moving average of $23.24.
Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). Tallgrass Energy had a net margin of 21.07% and a return on equity of 7.62%. The company had revenue of $197.35 million during the quarter, compared to analyst estimates of $236.40 million. As a group, sell-side analysts forecast that Tallgrass Energy will post 1.47 EPS for the current year.
In other news, major shareholder Infrastructure Asso Blackstone purchased 223,900 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $24.12 per share, for a total transaction of $5,400,468.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Ltd Gic purchased 18,835 shares of the stock in a transaction dated Tuesday, April 9th. The shares were purchased at an average price of $24.48 per share, with a total value of $461,080.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,294,489 shares of company stock valued at $31,357,833. Company insiders own 28.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TGE. Tortoise Capital Advisors L.L.C. purchased a new position in Tallgrass Energy in the fourth quarter valued at $584,470,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Tallgrass Energy during the fourth quarter worth about $214,734,000. Clearbridge Investments LLC increased its position in shares of Tallgrass Energy by 3.3% during the first quarter. Clearbridge Investments LLC now owns 5,220,606 shares of the company’s stock worth $131,246,000 after purchasing an additional 165,139 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Tallgrass Energy during the fourth quarter worth about $69,078,000. Finally, Miller Howard Investments Inc. NY increased its position in shares of Tallgrass Energy by 8.9% during the first quarter. Miller Howard Investments Inc. NY now owns 1,471,393 shares of the company’s stock worth $36,991,000 after purchasing an additional 120,851 shares in the last quarter. Institutional investors and hedge funds own 56.37% of the company’s stock.
Tallgrass Energy Company Profile
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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