Analysts forecast that Tallgrass Energy LP (NYSE:TGE) will announce earnings per share (EPS) of $0.32 for the current quarter, according to Zacks. Two analysts have issued estimates for Tallgrass Energy’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.34. Tallgrass Energy reported earnings of $0.38 per share during the same quarter last year, which would indicate a negative year over year growth rate of 15.8%. The business is expected to announce its next quarterly earnings results on Friday, February 14th.

According to Zacks, analysts expect that Tallgrass Energy will report full year earnings of $1.46 per share for the current financial year. For the next financial year, analysts expect that the company will report earnings of $0.99 per share, with EPS estimates ranging from $0.82 to $1.14. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Tallgrass Energy.

Tallgrass Energy (NYSE:TGE) last posted its earnings results on Wednesday, October 30th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The business had revenue of $226.71 million during the quarter, compared to analysts’ expectations of $229.80 million. Tallgrass Energy had a net margin of 29.74% and a return on equity of 11.24%.

Several research firms have recently issued reports on TGE. Stifel Nicolaus cut Tallgrass Energy from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Friday, October 11th. Robert W. Baird lowered Tallgrass Energy from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $20.00 in a research report on Thursday, August 29th. Zacks Investment Research cut Tallgrass Energy from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research note on Saturday, November 2nd. Scotiabank initiated coverage on Tallgrass Energy in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $19.50 price target for the company. Finally, Bank of America upgraded shares of Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.40.

Several institutional investors have recently bought and sold shares of TGE. Invesco Ltd. boosted its position in shares of Tallgrass Energy by 124,475.5% in the 2nd quarter. Invesco Ltd. now owns 25,063,342 shares of the company’s stock valued at $529,087,000 after purchasing an additional 25,043,223 shares during the period. Alps Advisors Inc. grew its stake in Tallgrass Energy by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 18,985,835 shares of the company’s stock worth $382,375,000 after buying an additional 5,023,031 shares during the last quarter. Blackstone Group Inc grew its stake in Tallgrass Energy by 5.8% during the 2nd quarter. Blackstone Group Inc now owns 23,652,463 shares of the company’s stock worth $499,303,000 after buying an additional 1,305,670 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Tallgrass Energy during the third quarter worth approximately $11,842,000. Finally, Man Group plc increased its position in Tallgrass Energy by 386.7% during the third quarter. Man Group plc now owns 640,746 shares of the company’s stock worth $12,904,000 after buying an additional 509,108 shares during the period. 55.04% of the stock is owned by institutional investors and hedge funds.

NYSE TGE traded up $0.17 during trading on Friday, reaching $18.18. 1,567,017 shares of the company’s stock were exchanged, compared to its average volume of 1,535,823. The stock has a market cap of $5.07 billion, a P/E ratio of 14.31 and a beta of 0.66. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.63 and a current ratio of 0.73. The company has a 50 day moving average price of $18.35 and a two-hundred day moving average price of $19.88. Tallgrass Energy has a 1 year low of $14.28 and a 1 year high of $25.96.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, October 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.10%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.54. Tallgrass Energy’s payout ratio is 173.23%.

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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