Stifel Nicolaus downgraded shares of Tallgrass Energy (NYSE:TGE) from a buy rating to a hold rating in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have $20.00 price objective on the stock.
TGE has been the topic of several other research reports. Robert W. Baird cut Tallgrass Energy from an outperform rating to a neutral rating and cut their price objective for the stock from $28.00 to $20.00 in a research report on Thursday, August 29th. Scotiabank assumed coverage on Tallgrass Energy in a research report on Tuesday, September 3rd. They issued a sector perform rating and a $19.50 price objective on the stock. ValuEngine raised Tallgrass Energy from a strong sell rating to a sell rating in a research report on Wednesday, August 28th. Piper Jaffray Companies assumed coverage on Tallgrass Energy in a research report on Wednesday, July 17th. They issued a neutral rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research cut Tallgrass Energy from a hold rating to a strong sell rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $23.15.
TGE stock opened at $19.39 on Friday. The stock’s fifty day simple moving average is $19.53 and its two-hundred day simple moving average is $21.47. 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 has a 1-year low of $14.28 and a 1-year high of $25.96. The stock has a market cap of $5.44 billion, a P/E ratio of 15.27 and a beta of 0.69.
Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share 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 business had revenue of $211.52 million during the quarter, compared to analysts’ expectations of $226.00 million. As a group, analysts forecast that Tallgrass Energy will post 1.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.35%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, October 30th. Tallgrass Energy’s payout ratio is presently 170.08%.
Large investors have recently added to or reduced their stakes in the stock. Williams Jones & Associates LLC bought a new stake in shares of Tallgrass Energy during the 1st quarter valued at $293,000. GSA Capital Partners LLP bought a new stake in shares of Tallgrass Energy during the 2nd quarter valued at $440,000. GYL Financial Synergies LLC bought a new stake in shares of Tallgrass Energy during the 1st quarter valued at $761,000. CX Institutional bought a new stake in shares of Tallgrass Energy during the 2nd quarter valued at $2,586,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Tallgrass Energy by 87.5% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 685,997 shares of the company’s stock valued at $14,481,000 after purchasing an additional 320,211 shares during the period. Institutional investors own 55.33% of the company’s stock.
Tallgrass Energy Company Profile
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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