Oppenheimer & Co. Inc. bought a new position in shares of Tallgrass Energy LP (NYSE:TGE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,347 shares of the company’s stock, valued at approximately $374,000.
Separately, Private Capital Group LLC bought a new position in shares of Tallgrass Energy in the 4th quarter worth about $55,000. Institutional investors own 49.98% of the company’s stock.
In other Tallgrass Energy news, insider David G. Dehaemers, Jr. purchased 20,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was acquired at an average price of $20.52 per share, with a total value of $410,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 28.59% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. US Capital Advisors reiterated a “hold” rating on shares of Tallgrass Energy in a research report on Wednesday, January 16th. Bank of America started coverage on shares of Tallgrass Energy in a research report on Friday, January 11th. They issued an “underperform” rating and a $22.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on shares of Tallgrass Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, November 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Tallgrass Energy presently has a consensus rating of “Hold” and a consensus price target of $26.00.
Shares of NYSE:TGE opened at $22.92 on Monday. Tallgrass Energy LP has a fifty-two week low of $17.14 and a fifty-two week high of $26.35. The stock has a market capitalization of $6.42 billion, a P/E ratio of 18.05 and a beta of 0.98. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.66 and a current ratio of 0.73.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be issued a dividend of $0.52 per share. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, January 30th. This represents a $2.08 annualized dividend and a yield of 9.08%. Tallgrass Energy’s dividend payout ratio (DPR) is currently 163.78%.
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Tallgrass Energy Profile
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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