Tallgrass Energy (NYSE:TGE) Downgraded to C+ at TheStreet

TheStreet cut shares of Tallgrass Energy (NYSE:TGE) from a b- rating to a c+ rating in a research note issued to investors on Thursday morning, TheStreetRatingsTable reports.

TGE has been the subject of several other research reports. ValuEngine downgraded Tallgrass Energy from a sell rating to a strong sell rating in a research note on Wednesday, July 31st. Zacks Investment Research raised Tallgrass Energy from a strong sell rating to a hold rating in a research note on Thursday, August 1st. Citigroup began coverage on Tallgrass Energy in a research note on Tuesday, June 25th. They issued a buy rating and a $23.00 price objective for the company. Finally, Piper Jaffray Companies began coverage on Tallgrass Energy in a research note on Wednesday, July 17th. They issued a neutral rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $24.75.

NYSE TGE traded up $0.15 during trading on Thursday, hitting $17.35. 2,467,564 shares of the company’s stock were exchanged, compared to its average volume of 1,502,685. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.69. The stock has a market capitalization of $4.79 billion, a P/E ratio of 13.66, a PEG ratio of 1.63 and a beta of 0.70. Tallgrass Energy has a fifty-two week low of $16.76 and a fifty-two week high of $26.35. The firm’s 50 day moving average price is $20.68.

Tallgrass Energy (NYSE:TGE) last issued its earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.09). The business had revenue of $197.35 million for the quarter, compared to analyst estimates of $236.40 million. Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%. On average, equities analysts predict that Tallgrass Energy will post 1.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.16 annualized dividend and a dividend yield of 12.45%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.53. Tallgrass Energy’s dividend payout ratio is currently 170.08%.

Institutional investors have recently added to or reduced their stakes in the company. Arlington Partners LLC acquired a new position in shares of Tallgrass Energy in the second quarter valued at approximately $32,000. Lindbrook Capital LLC bought a new stake in Tallgrass Energy in the first quarter valued at approximately $38,000. Lee Financial Co bought a new stake in Tallgrass Energy in the second quarter valued at approximately $44,000. Avestar Capital LLC bought a new stake in Tallgrass Energy in the first quarter valued at approximately $52,000. Finally, Price Wealth Management Inc. bought a new stake in Tallgrass Energy in the second quarter valued at approximately $60,000. 56.01% of the stock is owned by institutional investors.

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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Analyst Recommendations for Tallgrass Energy (NYSE:TGE)

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