Equities research analysts at Goldman Sachs Group began coverage on shares of Tallgrass Energy (NYSE:TGE) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other brokerages have also commented on TGE. ValuEngine raised shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Stifel Nicolaus increased their price target on shares of Tallgrass Energy from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Morgan Stanley increased their price target on shares of Tallgrass Energy from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, August 23rd. Finally, Citigroup increased their price target on shares of Tallgrass Energy from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.20.
Shares of Tallgrass Energy stock traded down $0.17 during midday trading on Monday, hitting $23.74. The company had a trading volume of 640,300 shares, compared to its average volume of 836,274. The firm has a market capitalization of $6.61 billion, a P/E ratio of 31.24 and a beta of 1.91. The company has a quick ratio of 0.60, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. Tallgrass Energy has a 12-month low of $17.14 and a 12-month high of $28.94.
Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.36). The company had revenue of $193.59 million during the quarter, compared to analysts’ expectations of $200.50 million. Tallgrass Energy had a negative net margin of 18.21% and a positive return on equity of 2.03%. As a group, research analysts anticipate that Tallgrass Energy will post 1.25 earnings per share for the current fiscal year.
In other Tallgrass Energy news, insider David G. Dehaemers, Jr. purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were bought at an average price of $22.21 per share, for a total transaction of $333,150.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA acquired a new stake in shares of Tallgrass Energy during the 2nd quarter worth approximately $115,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Tallgrass Energy during the 2nd quarter worth approximately $173,000. Bank of Montreal Can acquired a new stake in shares of Tallgrass Energy during the 2nd quarter worth approximately $186,000. Eagle Ridge Investment Management acquired a new stake in shares of Tallgrass Energy during the 2nd quarter worth approximately $232,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Tallgrass Energy during the 2nd quarter worth approximately $275,000. Institutional investors own 23.35% of the company’s stock.
About Tallgrass Energy
Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, 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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