Tallgrass Energy LP (NYSE:TGE) Short Interest Update

Tallgrass Energy LP (NYSE:TGE) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 4,570,000 shares, a growth of 19.6% from the December 15th total of 3,820,000 shares. Based on an average daily volume of 4,470,000 shares, the short-interest ratio is presently 1.0 days. Approximately 3.1% of the shares of the company are sold short.

NYSE TGE opened at $22.25 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 1.53. Tallgrass Energy has a 52-week low of $14.28 and a 52-week high of $25.96. The business’s 50-day moving average price is $20.46 and its 200 day moving average price is $19.54. The firm has a market cap of $6.26 billion, a P/E ratio of 17.52 and a beta of 0.73.

Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Tallgrass Energy had a net margin of 29.74% and a return on equity of 11.24%. The business had revenue of $226.71 million during the quarter, compared to analysts’ expectations of $229.80 million. As a group, analysts anticipate that Tallgrass Energy will post 1.46 earnings per share for the current year.

TGE has been the topic of a number of research reports. Wells Fargo & Co lowered Tallgrass Energy from an “equal weight” rating to an “underweight” rating in a report on Tuesday, January 7th. Citigroup lowered Tallgrass Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $19.50 in a report on Tuesday, October 15th. Barclays set a $20.00 price target on Tallgrass Energy and gave the stock a “hold” rating in a report on Tuesday, October 15th. ValuEngine raised Tallgrass Energy from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Finally, Piper Jaffray Companies set a $20.00 price target on Tallgrass Energy and gave the stock a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.33.

Several hedge funds have recently bought and sold shares of the company. US Bancorp DE lifted its position in shares of Tallgrass Energy by 2.9% during the 2nd quarter. US Bancorp DE now owns 22,589 shares of the company’s stock valued at $477,000 after acquiring an additional 630 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tallgrass Energy by 8.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,874 shares of the company’s stock worth $219,000 after purchasing an additional 822 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Tallgrass Energy by 24.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $98,000 after purchasing an additional 910 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Tallgrass Energy by 45.7% during the 2nd 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 last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Tallgrass Energy by 33.0% during the 3rd quarter. Penserra Capital Management LLC now owns 5,580 shares of the company’s stock worth $112,000 after purchasing an additional 1,386 shares during the last quarter. Institutional investors own 55.07% of the company’s stock.

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.

Further Reading: Gap Down Stocks

Receive News & Ratings for Tallgrass Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy and related companies with MarketBeat.com's FREE daily email newsletter.