Prime Capital Investment Advisors LLC purchased a new stake in Tallgrass Energy LP (NYSE:TGE) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,400 shares of the company’s stock, valued at approximately $111,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates purchased a new stake in Tallgrass Energy in the fourth quarter valued at $2,036,000. Walnut Private Equity Partners LLC purchased a new stake in Tallgrass Energy in the first quarter valued at $3,765,000. Stephens Inc. AR purchased a new stake in Tallgrass Energy in the fourth quarter valued at $589,000. Dividend Assets Capital LLC purchased a new stake in Tallgrass Energy in the fourth quarter valued at $12,391,000. Finally, Eii Capital Management Inc. purchased a new stake in Tallgrass Energy in the fourth quarter valued at $209,000. 49.93% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on TGE. TheStreet raised shares of Tallgrass Energy from a “c” rating to a “b-” rating in a research report on Thursday, April 4th. Goldman Sachs Group cut shares of Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a report on Tuesday, April 2nd. Credit Suisse Group cut shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $25.00 in a report on Thursday, February 21st. Zacks Investment Research cut shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of Tallgrass Energy in a report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.38.
In other Tallgrass Energy news, major shareholder Private Ltd Gic bought 18,835 shares of Tallgrass Energy stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average cost of $24.48 per share, with a total value of $461,080.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary D. Watkins sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $23.83, for a total transaction of $285,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 777,786 shares of company stock valued at $18,664,392 and sold 46,405,689 shares valued at $488,446,299. 28.59% of the stock is currently owned by corporate insiders.
Shares of NYSE:TGE opened at $24.56 on Wednesday. Tallgrass Energy LP has a one year low of $19.59 and a one year high of $26.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.67 and a quick ratio of 0.59. The stock has a market capitalization of $6.88 billion, a PE ratio of 19.34 and a beta of 0.96.
Tallgrass Energy (NYSE:TGE) last announced its earnings results on Friday, February 8th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Tallgrass Energy had a net margin of 17.29% and a return on equity of 6.15%. The business had revenue of $220.26 million during the quarter, compared to analysts’ expectations of $210.60 million. As a group, sell-side analysts predict that Tallgrass Energy LP will post 1.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 8.63%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 29th. Tallgrass Energy’s dividend payout ratio is presently 163.78%.
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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.
Read More: Return on Investment (ROI)
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