Fox Run Management L.L.C. bought a new stake in shares of Tallgrass Energy LP (NYSE:TGE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,619 shares of the company’s stock, valued at approximately $351,000.
Other hedge funds also recently modified their holdings of the company. Arlington Partners LLC purchased a new stake in Tallgrass Energy during the 2nd quarter valued at about $32,000. Lindbrook Capital LLC purchased a new stake in Tallgrass Energy during the 1st quarter valued at about $38,000. Avestar Capital LLC purchased a new stake in Tallgrass Energy during the 1st quarter valued at about $52,000. Quantamental Technologies LLC purchased a new stake in Tallgrass Energy during the 1st quarter valued at about $78,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Tallgrass Energy during the 1st quarter valued at about $106,000. Institutional investors own 56.27% of the company’s stock.
Several equities research analysts recently weighed in on TGE shares. ValuEngine upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research cut Zafgen from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Goldman Sachs Group restated a “buy” rating and set a GBX 265 ($3.46) target price on shares of Tesco in a report on Tuesday, April 2nd. TheStreet upgraded TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Finally, Piper Jaffray Companies dropped their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Tallgrass Energy currently has a consensus rating of “Hold” and a consensus price target of $24.89.
Tallgrass Energy (NYSE:TGE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.09). Tallgrass Energy had a return on equity of 7.62% and a net margin of 21.07%. The business had revenue of $197.35 million during the quarter, compared to analysts’ expectations of $236.40 million. Equities analysts forecast that Tallgrass Energy LP will post 1.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.16 annualized dividend and a yield of 11.24%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.53. Tallgrass Energy’s dividend payout ratio (DPR) is 166.93%.
In other news, major shareholder Holdings L.P. Blackstone III bought 375,358 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $23.93 per share, for a total transaction of $8,982,316.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Infrastructure Asso Blackstone bought 223,900 shares of the stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $24.12 per share, with a total value of $5,400,468.00. The disclosure for this purchase can be found here. Company insiders own 28.59% 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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