Tallgrass Energy GP, LP (TEGP) Upgraded by BidaskClub to “Sell”

Tallgrass Energy GP, LP (NYSE:TEGP) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday, November 8th.

TEGP has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Tallgrass Energy GP from a “strong sell” rating to a “hold” rating in a report on Thursday, September 21st. Scotiabank set a $28.00 price target on shares of Tallgrass Energy GP and gave the company a “hold” rating in a report on Saturday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Tallgrass Energy GP in a report on Sunday, October 29th. Royal Bank Of Canada restated a “hold” rating and set a $30.00 price target on shares of Tallgrass Energy GP in a report on Monday, July 31st. Finally, Robert W. Baird restated a “buy” rating and set a $32.00 price target on shares of Tallgrass Energy GP in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.11.

Tallgrass Energy GP (TEGP) traded down $0.51 during midday trading on Wednesday, hitting $22.75. 385,512 shares of the company were exchanged, compared to its average volume of 204,210. Tallgrass Energy GP has a twelve month low of $22.38 and a twelve month high of $29.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.55 and a quick ratio of 0.50. The company has a market cap of $3,657.15, a P/E ratio of 29.08, a P/E/G ratio of 2.97 and a beta of 2.08.

In related news, Director Thomas A. Gerke acquired 9,800 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $249,900.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. bought 5,428 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $25.04 per share, with a total value of $135,917.12. The disclosure for this purchase can be found here.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Tallgrass Energy GP in the first quarter worth approximately $119,000. The Manufacturers Life Insurance Company grew its position in Tallgrass Energy GP by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 330 shares in the last quarter. Tiedemann Wealth Management LLC bought a new stake in Tallgrass Energy GP in the third quarter worth approximately $148,000. Cubist Systematic Strategies LLC grew its position in Tallgrass Energy GP by 816.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after acquiring an additional 5,554 shares in the last quarter. Finally, Summit Asset Management LLC bought a new stake in Tallgrass Energy GP in the third quarter worth approximately $215,000. 35.82% of the stock is owned by institutional investors.

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Tallgrass Energy GP Company Profile

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