Tallgrass Energy LP (NYSE:TGE) major shareholder Holdings L.P. Blackstone III bought 700 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $24.50 per share, for a total transaction of $17,150.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Holdings L.P. Blackstone III also recently made the following trade(s):

  • On Monday, March 18th, Holdings L.P. Blackstone III bought 284,500 shares of Tallgrass Energy stock. The shares were acquired at an average price of $24.07 per share, for a total transaction of $6,847,915.00.

Tallgrass Energy stock traded down $0.19 during mid-day trading on Thursday, reaching $24.84. The stock had a trading volume of 10,437 shares, compared to its average volume of 1,060,319. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 19.67 and a beta of 0.94. Tallgrass Energy LP has a one year low of $17.50 and a one year high of $26.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.67 and a quick ratio of 0.59.

Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.04). The firm had revenue of $220.26 million during the quarter, compared to the consensus estimate of $210.60 million. Tallgrass Energy had a return on equity of 6.15% and a net margin of 17.29%. On average, equities analysts expect that Tallgrass Energy LP will post 1.82 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in TGE. FTB Advisors Inc. bought a new position in Tallgrass Energy during the 4th quarter valued at about $30,000. Ffcm LLC purchased a new stake in shares of Tallgrass Energy during the 4th quarter valued at about $38,000. Bessemer Group Inc. purchased a new stake in shares of Tallgrass Energy during the 4th quarter valued at about $45,000. Rare Infrastructure Ltd purchased a new stake in shares of Tallgrass Energy during the 4th quarter valued at about $51,000. Finally, Private Capital Group LLC purchased a new stake in shares of Tallgrass Energy during the 4th quarter valued at about $55,000. Institutional investors own 49.82% of the company’s stock.

TGE has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Saturday, January 19th. Morgan Stanley dropped their target price on shares of Tallgrass Energy from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, November 30th. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a report on Wednesday, January 16th. Credit Suisse Group cut shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Thursday, February 21st. Finally, Bank of America started coverage on shares of Tallgrass Energy in a research note on Friday, January 11th. They issued an “underperform” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Tallgrass Energy currently has a consensus rating of “Hold” and an average price target of $25.50.

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Tallgrass Energy Company Profile

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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