Tallgrass Energy GP, LP (NYSE:TEGP) Holdings Reduced by Friedberg Investment Management

Friedberg Investment Management decreased its holdings in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 73.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the pipeline company’s stock after selling 40,110 shares during the quarter. Friedberg Investment Management’s holdings in Tallgrass Energy GP were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of TEGP. The Manufacturers Life Insurance Company lifted its holdings in Tallgrass Energy GP by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after buying an additional 330 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Tallgrass Energy GP by 816.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after buying an additional 5,554 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Tallgrass Energy GP in the 2nd quarter worth $219,000. Proficio Capital Partners LLC lifted its holdings in Tallgrass Energy GP by 18.5% in the 2nd quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock worth $235,000 after buying an additional 1,428 shares in the last quarter. Finally, Brookstone Capital Management acquired a new position in Tallgrass Energy GP in the 2nd quarter worth $309,000. Institutional investors and hedge funds own 36.32% of the company’s stock.

In other Tallgrass Energy GP news, Director Thomas A. Gerke acquired 9,800 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average price of $25.50 per share, with a total value of $249,900.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David G. Dehaemers, Jr. bought 5,428 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $25.04 per share, with a total value of $135,917.12. The disclosure for this purchase can be found here.

Shares of Tallgrass Energy GP, LP (NYSE TEGP) opened at $23.82 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.50 and a current ratio of 0.55. Tallgrass Energy GP, LP has a 1 year low of $21.79 and a 1 year high of $29.50. The firm has a market cap of $3,660.00 and a PE ratio of 29.35.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date was Monday, October 30th. This is an increase from Tallgrass Energy GP’s previous quarterly dividend of $0.34. Tallgrass Energy GP’s dividend payout ratio is currently 171.25%.

A number of brokerages have commented on TEGP. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective on shares of Tallgrass Energy GP in a report on Friday, August 18th. Robert W. Baird reiterated a “buy” rating and issued a $33.00 price objective on shares of Tallgrass Energy GP in a report on Thursday. Morgan Stanley cut their target price on shares of Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, Barclays restated a “buy” rating and issued a $34.00 target price on shares of Tallgrass Energy GP in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.22.

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Tallgrass Energy GP Company Profile

Institutional Ownership by Quarter for Tallgrass Energy GP (NYSE:TEGP)

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