Equities analysts expect Tallgrass Energy LP (NYSE:TGE) to announce earnings per share (EPS) of $0.40 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Tallgrass Energy’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.51. Tallgrass Energy reported earnings of $0.38 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, October 30th.
On average, analysts expect that Tallgrass Energy will report full year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.39 to $1.40. For the next financial year, analysts anticipate that the firm will post earnings of $1.14 per share, with EPS estimates ranging from $0.89 to $1.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Tallgrass Energy.
Tallgrass Energy (NYSE:TGE) last released its earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $211.52 million for the quarter, compared to analyst estimates of $226.00 million. Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%.
Several institutional investors and hedge funds have recently modified their holdings of TGE. Arlington Partners LLC acquired a new stake in Tallgrass Energy during the second quarter worth approximately $32,000. Lee Financial Co acquired a new stake in Tallgrass Energy during the second quarter worth approximately $44,000. Price Wealth Management Inc. acquired a new stake in Tallgrass Energy during the second quarter worth approximately $60,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Tallgrass Energy by 45.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,144 shares of the company’s stock worth $88,000 after purchasing an additional 1,300 shares during the period. Finally, Seeyond acquired a new stake in Tallgrass Energy during the second quarter worth approximately $90,000. Institutional investors own 55.33% of the company’s stock.
Shares of TGE traded down $0.09 during trading hours on Wednesday, hitting $19.27. 1,391,407 shares of the company were exchanged, compared to its average volume of 1,479,187. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 15.17 and a beta of 0.69. Tallgrass Energy has a fifty-two week low of $14.28 and a fifty-two week high of $25.96. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 1.51. The firm’s fifty day moving average is $19.62 and its 200 day moving average is $21.45.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.42%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, October 30th. Tallgrass Energy’s dividend payout ratio (DPR) is 170.08%.
About Tallgrass Energy
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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