Global X Management Co. LLC increased its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 67.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 409,973 shares of the pipeline company’s stock after buying an additional 164,963 shares during the period. Global X Management Co. LLC’s holdings in Tallgrass Energy GP, were worth $10,426,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TEGP. Bank of Montreal Can increased its stake in Tallgrass Energy GP, by 0.6% in the first quarter. Bank of Montreal Can now owns 22,158 shares of the pipeline company’s stock valued at $637,000 after buying an additional 126 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Tallgrass Energy GP, by 8.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,449 shares of the pipeline company’s stock valued at $531,000 after buying an additional 1,367 shares in the last quarter. Wells Fargo & Company MN increased its stake in Tallgrass Energy GP, by 14.4% in the first quarter. Wells Fargo & Company MN now owns 51,146 shares of the pipeline company’s stock valued at $1,471,000 after buying an additional 6,421 shares in the last quarter. US Bancorp DE increased its stake in Tallgrass Energy GP, by 1,480.2% in the first quarter. US Bancorp DE now owns 30,798 shares of the pipeline company’s stock valued at $886,000 after buying an additional 28,849 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Tallgrass Energy GP, by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock valued at $1,655,000 after buying an additional 665 shares in the last quarter.

Shares of Tallgrass Energy GP, LP (NYSE:TEGP) opened at 24.79 on Thursday. Tallgrass Energy GP, LP has a 12 month low of $21.74 and a 12 month high of $29.50. The stock has a market cap of $1.44 billion, a P/E ratio of 40.84 and a beta of 2.17. The company has a 50 day moving average price of $25.29 and a 200-day moving average price of $26.69.

Tallgrass Energy GP, (NYSE:TEGP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. The firm had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $166.78 million. On average, equities research analysts predict that Tallgrass Energy GP, LP will post $0.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 28th will be paid a dividend of $0.3425 per share. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, July 26th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.53%. Tallgrass Energy GP,’s payout ratio is 201.47%.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/global-x-management-co-llc-buys-164963-shares-of-tallgrass-energy-gp-lp-tegp/1467596.html.

TEGP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Tallgrass Energy GP, from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, April 13th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating and issued a $32.00 price objective on shares of Tallgrass Energy GP, in a research report on Thursday, April 20th. Macquarie initiated coverage on Tallgrass Energy GP, in a research report on Friday, April 21st. They issued an “outperform” rating and a $32.00 price objective on the stock. Scotiabank reiterated a “hold” rating and issued a $28.00 price objective on shares of Tallgrass Energy GP, in a research report on Thursday, April 27th. Finally, TheStreet upgraded Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.78.

Tallgrass Energy GP, Company Profile

Want to see what other hedge funds are holding TEGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy GP, LP (NYSE:TEGP).

Institutional Ownership by Quarter for Tallgrass Energy GP, (NYSE:TEGP)

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