Zacks: Brokerages Anticipate Tallgrass Energy LP (TGE) Will Post Earnings of $0.42 Per Share

Wall Street analysts forecast that Tallgrass Energy LP (NYSE:TGE) will report earnings per share of $0.42 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Tallgrass Energy’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.35. Tallgrass Energy reported earnings per share of $0.13 in the same quarter last year, which would suggest a positive year-over-year growth rate of 223.1%. The business is scheduled to report its next earnings report on Tuesday, February 12th.

On average, analysts expect that Tallgrass Energy will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $1.59. For the next fiscal year, analysts expect that the company will report earnings of $1.75 per share, with EPS estimates ranging from $1.48 to $2.01. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Tallgrass Energy.

A number of analysts recently issued reports on the company. TheStreet raised Tallgrass Energy from a “d+” rating to a “c-” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised Tallgrass Energy from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, October 23rd. US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a research report on Tuesday, July 17th. ValuEngine raised Tallgrass Energy from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Finally, Barclays assumed coverage on Tallgrass Energy in a research report on Thursday, August 16th. They set an “equal weight” rating and a $26.00 price objective for the company. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.86.

In related news, Director Jeffrey A. Ball purchased 25,000 shares of Tallgrass Energy stock in a transaction on Thursday, November 1st. The stock was bought at an average price of $21.41 per share, with a total value of $535,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David G. Dehaemers, Jr. purchased 16,777 shares of Tallgrass Energy stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $21.24 per share, with a total value of $356,343.48. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 56,777 shares of company stock valued at $1,224,743. Insiders own 28.59% of the company’s stock.

Several large investors have recently made changes to their positions in TGE. Miller Howard Investments Inc. NY acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $17,932,000. Walnut Private Equity Partners LLC acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $1,611,000. Alps Advisors Inc. acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $1,535,000. Ballentine Partners LLC acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $494,000. Finally, Stokes Capital Advisors LLC acquired a new stake in shares of Tallgrass Energy in the second quarter worth about $298,000. 27.72% of the stock is owned by institutional investors.

TGE opened at $22.69 on Wednesday. The firm has a market cap of $6.48 billion, a P/E ratio of 28.18 and a beta of 1.73. Tallgrass Energy has a 1 year low of $17.14 and a 1 year high of $26.70. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.37.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be given a dividend of $0.51 per share. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.04 dividend on an annualized basis and a yield of 8.99%. Tallgrass Energy’s dividend payout ratio (DPR) is presently 268.42%.

About Tallgrass Energy

Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, 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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