Creative Planning Increases Stock Holdings in Tallgrass Energy LP (NYSE:TGE)

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Creative Planning increased its holdings in shares of Tallgrass Energy LP (NYSE:TGE) by 20.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,734 shares of the company’s stock after buying an additional 16,426 shares during the period. Creative Planning’s holdings in Tallgrass Energy were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Arlington Partners LLC purchased a new position in Tallgrass Energy in the 2nd quarter valued at $32,000. Lee Financial Co purchased a new position in Tallgrass Energy in the 2nd quarter valued at $44,000. Price Wealth Management Inc. purchased a new position in Tallgrass Energy in the 2nd quarter valued at $60,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Tallgrass Energy by 45.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,144 shares of the company’s stock valued at $88,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Seeyond purchased a new position in Tallgrass Energy in the 2nd quarter valued at $90,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Shares of NYSE:TGE opened at $18.13 on Friday. The business has a 50-day moving average price of $19.33 and a 200 day moving average price of $20.71. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 14.28 and a beta of 0.68. Tallgrass Energy LP has a 12-month low of $14.28 and a 12-month high of $25.96.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The business had revenue of $226.71 million for the quarter, compared to analyst estimates of $229.80 million. Tallgrass Energy had a return on equity of 11.24% and a net margin of 29.74%. As a group, equities research analysts predict that Tallgrass Energy LP will post 1.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.13%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 30th. Tallgrass Energy’s dividend payout ratio (DPR) is presently 173.23%.

A number of brokerages have weighed in on TGE. Bank of America upgraded Tallgrass Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, August 29th. Scotiabank assumed coverage on Tallgrass Energy in a research note on Tuesday, September 3rd. They issued a “sector perform” rating and a $19.50 target price for the company. TheStreet downgraded Tallgrass Energy from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. ValuEngine downgraded Tallgrass Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Piper Jaffray Companies set a $20.00 target price on Tallgrass Energy and gave the stock a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.73.

Tallgrass Energy 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.

Further Reading: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding TGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy LP (NYSE:TGE).

Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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