Tallgrass Energy GP, LP (NYSE:TEGP) Shares Bought by NBW Capital LLC

NBW Capital LLC lifted its stake in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 395,567 shares of the pipeline company’s stock after purchasing an additional 6,836 shares during the quarter. Tallgrass Energy GP, comprises about 2.8% of NBW Capital LLC’s investment portfolio, making the stock its 4th largest position. NBW Capital LLC owned approximately 0.68% of Tallgrass Energy GP, worth $10,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tallgrass Energy GP, by 3.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,200,216 shares of the pipeline company’s stock worth $30,521,000 after acquiring an additional 34,654 shares during the period. Global Endowment Management LP raised its holdings in Tallgrass Energy GP, by 5.1% in the first quarter. Global Endowment Management LP now owns 22,760 shares of the pipeline company’s stock valued at $654,000 after buying an additional 1,100 shares during the period. Financial Counselors Inc. raised its stake in shares of Tallgrass Energy GP, by 23.9% during the second quarter. Financial Counselors Inc. now owns 96,957 shares of the pipeline company’s stock valued at $2,466,000 after purchasing an additional 18,710 shares during the period. Citadel Advisors LLC raised its stake in shares of Tallgrass Energy GP, by 148.5% during the first quarter. Citadel Advisors LLC now owns 126,756 shares of the pipeline company’s stock valued at $3,645,000 after purchasing an additional 75,739 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of Tallgrass Energy GP, during the first quarter valued at approximately $115,000. 36.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tallgrass Energy GP, LP (TEGP) traded up 0.304% during midday trading on Monday, hitting $28.035. The company had a trading volume of 74,184 shares. The firm has a market capitalization of $1.63 billion, a P/E ratio of 41.472 and a beta of 2.17. The firm’s 50-day moving average is $27.20 and its 200-day moving average is $26.28. Tallgrass Energy GP, LP has a 12-month low of $21.74 and a 12-month high of $29.50.

Tallgrass Energy GP, (NYSE:TEGP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). The firm had revenue of $160.86 million for the quarter, compared to the consensus estimate of $166.78 million. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. On average, analysts predict that Tallgrass Energy GP, LP will post $0.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Monday, October 30th. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. Tallgrass Energy GP,’s dividend payout ratio (DPR) is 201.47%.

A number of research firms have recently weighed in on TEGP. Scotiabank set a $28.00 price objective on shares of Tallgrass Energy GP, and gave the stock a “hold” rating in a report on Saturday, July 22nd. BidaskClub downgraded shares of Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “hold” rating and issued a $30.00 target price on shares of Tallgrass Energy GP, in a research note on Monday, July 31st. Zacks Investment Research cut Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $29.00 target price (up from $28.00) on shares of Tallgrass Energy GP, in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Tallgrass Energy GP, has a consensus rating of “Hold” and a consensus price target of $30.22.

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Tallgrass Energy GP, Profile

Institutional Ownership by Quarter for Tallgrass Energy GP, (NYSE:TEGP)

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