Bank of America started coverage on shares of Tallgrass Energy (NYSE:TGE) in a note issued to investors on Friday, The Fly reports. The brokerage set an “underperform” rating on the stock.

TGE has been the subject of several other reports. Morgan Stanley decreased their price target on shares of Tallgrass Energy from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, November 30th. Zacks Investment Research raised Tallgrass Energy from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, October 23rd. Citigroup raised their price target on Tallgrass Energy from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Credit Suisse Group began coverage on Tallgrass Energy in a report on Thursday, October 11th. They set an “outperform” rating and a $29.00 price target for the company. Finally, Goldman Sachs Group began coverage on Tallgrass Energy in a report on Monday, October 8th. They set a “buy” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $26.43.

NYSE TGE opened at $23.51 on Friday. The company has a market cap of $6.49 billion, a P/E ratio of 30.93 and a beta of 1.09. Tallgrass Energy has a 52-week low of $17.14 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.73 and a quick ratio of 0.66.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.04). The business had revenue of $200.32 million for the quarter, compared to the consensus estimate of $207.70 million. Tallgrass Energy had a positive return on equity of 4.03% and a negative net margin of 11.77%. As a group, sell-side analysts expect that Tallgrass Energy will post 0.62 earnings per share for the current year.

In related news, Director Jeffrey A. Ball acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $21.41 per share, with a total value of $535,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was bought at an average cost of $20.52 per share, for a total transaction of $410,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 61,777 shares of company stock worth $1,301,993. Company insiders own 28.59% of the company’s stock.

Tallgrass Energy Company Profile

Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, 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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The Fly

Analyst Recommendations for Tallgrass Energy (NYSE:TGE)

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