Tiedemann Advisors LLC raised its holdings in shares of Tallgrass Energy LP (NYSE:TGE) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,196 shares of the company’s stock after acquiring an additional 23,310 shares during the quarter. Tiedemann Advisors LLC owned approximately 0.07% of Tallgrass Energy worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Arlington Partners LLC purchased a new position in Tallgrass Energy during the 2nd quarter valued at about $32,000. Lee Financial Co purchased a new position in Tallgrass Energy during the 2nd quarter valued at about $44,000. Avestar Capital LLC purchased a new position in Tallgrass Energy during the 1st quarter valued at about $52,000. Price Wealth Management Inc. purchased a new position in Tallgrass Energy during the 2nd quarter valued at about $60,000. Finally, Seeyond purchased a new position in Tallgrass Energy during the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.
Shares of Tallgrass Energy stock traded up $0.25 during mid-day trading on Friday, hitting $20.05. 227,263 shares of the stock were exchanged, compared to its average volume of 3,326,273. Tallgrass Energy LP has a twelve month low of $14.28 and a twelve month high of $25.96. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.90 and a beta of 0.69. The company has a 50-day simple moving average of $18.09 and a 200 day simple moving average of $22.08. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51.
Tallgrass Energy (NYSE:TGE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%. The firm had revenue of $211.52 million for the quarter, compared to analyst estimates of $226.00 million. Equities research analysts forecast that Tallgrass Energy LP will post 1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.54 per share. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 10.77%. The ex-dividend date of this dividend was Tuesday, July 30th. Tallgrass Energy’s dividend payout ratio (DPR) is currently 170.08%.
Several equities analysts have weighed in on the stock. TheStreet downgraded shares of Tallgrass Energy from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Piper Jaffray Companies assumed coverage on shares of Tallgrass Energy in a report on Wednesday, July 17th. They set a “neutral” rating and a $25.00 target price for the company. Zacks Investment Research upgraded shares of Tallgrass Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America upgraded shares of Tallgrass Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, August 29th. Finally, Robert W. Baird downgraded shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $20.00 in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $23.50.
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.
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