PNC Financial Services Group Inc. lifted its position in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 9.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,827 shares of the pipeline company’s stock after buying an additional 6,121 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of Tallgrass Energy GP, worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA acquired a new stake in shares of Tallgrass Energy GP, during the 1st quarter worth about $115,000. SG Americas Securities LLC purchased a new stake in Tallgrass Energy GP, in the 1st quarter valued at about $119,000. Proficio Capital Partners LLC raised its holdings in Tallgrass Energy GP, by 18.5% in the 2nd quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock valued at $235,000 after buying an additional 1,428 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Tallgrass Energy GP, in the 1st quarter valued at about $329,000. Finally, Brookstone Capital Management purchased a new stake in Tallgrass Energy GP, in the 2nd quarter valued at about $309,000. Institutional investors and hedge funds own 36.84% of the company’s stock.

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Tallgrass Energy GP, LP (NYSE:TEGP) opened at 27.65 on Wednesday. The firm has a 50-day moving average price of $27.54 and a 200 day moving average price of $27.54. Tallgrass Energy GP, LP has a 52-week low of $21.74 and a 52-week high of $29.30. The firm has a market capitalization of $1.61 billion, a P/E ratio of 40.90 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). The company had revenue of $160.86 million for the quarter, compared to analyst estimates of $166.78 million. Tallgrass Energy GP, had a return on equity of 2.01% and a net margin of 5.91%. Analysts forecast that Tallgrass Energy GP, LP will post $0.93 EPS for the current year.

A number of research analysts have commented on TEGP shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $30.00 target price on shares of Tallgrass Energy GP, in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and set a $32.00 price target on shares of Tallgrass Energy GP, in a research report on Tuesday, September 26th. BidaskClub cut shares of Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Barclays PLC boosted their price target on shares of Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Tallgrass Energy GP, from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.00.

Tallgrass Energy GP, Profile

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

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