Tallgrass Energy LP (NYSE:TGE) major shareholder Infrastructure Asso Blackstone bought 79,534 shares of the stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $24.49 per share, with a total value of $1,947,787.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Infrastructure Asso Blackstone also recently made the following trade(s):

  • On Wednesday, March 27th, Infrastructure Asso Blackstone acquired 308,992 shares of Tallgrass Energy stock. The stock was acquired at an average cost of $23.76 per share, with a total value of $7,341,649.92.

NYSE TGE traded up $0.04 on Thursday, reaching $24.63. 587,205 shares of the stock traded hands, compared to its average volume of 1,062,053. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.59 and a current ratio of 0.67. The firm has a market cap of $6.89 billion, a P/E ratio of 19.39 and a beta of 0.96. Tallgrass Energy LP has a 12 month low of $19.59 and a 12 month high of $26.35.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Friday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $220.26 million for the quarter, compared to the consensus estimate of $210.60 million. Tallgrass Energy had a net margin of 17.29% and a return on equity of 6.15%. On average, research analysts predict that Tallgrass Energy LP will post 1.8 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on TGE. Bank of America began coverage on Tallgrass Energy in a report on Friday, January 11th. They issued an “underperform” rating and a $22.00 price objective for the company. TheStreet raised Tallgrass Energy from a “c” rating to a “b-” rating in a report on Thursday, April 4th. Zacks Investment Research lowered Tallgrass Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Goldman Sachs Group lowered Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Tuesday, April 2nd. Finally, US Capital Advisors reissued a “hold” rating on shares of Tallgrass Energy in a report on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $25.38.

A number of hedge funds and other institutional investors have recently modified their holdings of TGE. Tortoise Capital Advisors L.L.C. bought a new position in Tallgrass Energy during the 4th quarter valued at $584,470,000. Alps Advisors Inc. bought a new position in Tallgrass Energy during the 4th quarter valued at $359,154,000. Kayne Anderson Capital Advisors LP bought a new position in Tallgrass Energy during the 4th quarter valued at $214,734,000. Jennison Associates LLC bought a new position in Tallgrass Energy during the 4th quarter valued at $91,357,000. Finally, RR Advisors LLC bought a new position in Tallgrass Energy during the 4th quarter valued at $77,536,000. 49.82% of the stock is owned by hedge funds and other institutional investors.

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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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