Catalyst Capital Advisors LLC increased its holdings in Tallgrass Energy LP (NYSE:TGE) by 87.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 685,997 shares of the company’s stock after buying an additional 320,211 shares during the quarter. Catalyst Capital Advisors LLC owned about 0.24% of Tallgrass Energy worth $14,481,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of TGE. Dimensional Fund Advisors LP bought a new stake in shares of Tallgrass Energy in the fourth quarter valued at about $250,000. Legal & General Group Plc acquired a new stake in shares of Tallgrass Energy during the fourth quarter worth approximately $112,000. FMR LLC acquired a new stake in shares of Tallgrass Energy in the fourth quarter valued at approximately $1,874,000. Deutsche Bank AG acquired a new stake in shares of Tallgrass Energy in the fourth quarter valued at approximately $2,730,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Tallgrass Energy by 25.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 27,574 shares of the company’s stock valued at $693,000 after acquiring an additional 5,621 shares during the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Bank of America raised shares of Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 29th. Scotiabank initiated coverage on shares of Tallgrass Energy in a research note on Tuesday, September 3rd. They issued a “sector perform” rating and a $19.50 price target on the stock. Piper Jaffray Companies began coverage on shares of Tallgrass Energy in a research note on Wednesday, July 17th. They set a “neutral” rating and a $25.00 price objective on the stock. Zacks Investment Research upgraded shares of Tallgrass Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, ValuEngine raised shares of Tallgrass Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Tallgrass Energy presently has an average rating of “Hold” and a consensus target price of $23.50.
Shares of NYSE TGE traded up $0.05 during midday trading on Friday, hitting $19.85. 752,689 shares of the company’s stock traded hands, compared to its average volume of 3,326,273. Tallgrass Energy LP has a 1 year low of $14.28 and a 1 year high of $25.96. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.90 and a beta of 0.69. The firm has a fifty day moving average of $18.09 and a 200 day moving average of $22.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.61 and a current ratio of 0.69.
Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $211.52 million for the quarter, compared to analysts’ expectations of $226.00 million. Tallgrass Energy had a net margin of 29.12% and a return on equity of 10.71%. On average, equities analysts anticipate that Tallgrass Energy LP will post 1.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $2.16 annualized dividend and a dividend yield of 10.88%. This is a positive change from Tallgrass Energy’s previous quarterly dividend of $0.53. Tallgrass Energy’s dividend payout ratio (DPR) is currently 170.08%.
Tallgrass Energy 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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