Zacks Investment Research upgraded shares of Tallgrass Energy (NYSE:TGE) from a hold rating to a buy rating in a research report released on Friday. The brokerage currently has $25.00 price objective on the stock.

According to Zacks, “Tallgrass Energy GP, LP is a limited partnership company. The company is engaged in the transportation, storage and processing of natural gas, the transportation of crude oil and the provision of water business services primarily to the oil and gas exploration and production industry through its subsidiary. Tallgrass Energy GP, LP is based in LEAWOOD, United States. “

TGE has been the topic of a number of other research reports. TheStreet raised Tallgrass Energy from a d+ rating to a c- rating in a report on Thursday, August 2nd. ValuEngine raised Tallgrass Energy from a hold rating to a buy rating in a report on Monday, August 20th. Barclays began coverage on Tallgrass Energy in a report on Thursday, August 16th. They set an equal weight rating and a $26.00 price objective on the stock. They noted that the move was a valuation call. Citigroup increased their price objective on Tallgrass Energy from $24.00 to $27.00 and gave the stock a buy rating in a report on Tuesday, September 25th. Finally, Credit Suisse Group started coverage on Tallgrass Energy in a report on Thursday, October 11th. They set an outperform rating and a $29.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $26.57.

Shares of TGE opened at $21.92 on Friday. The stock has a market cap of $6.14 billion, a P/E ratio of 28.84 and a beta of 1.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.66 and a current ratio of 0.73. Tallgrass Energy has a 52-week low of $17.14 and a 52-week high of $26.70.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The company had revenue of $200.32 million for the quarter, compared to analysts’ expectations 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, research analysts expect that Tallgrass Energy will post 1.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were issued a $0.51 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $2.04 annualized dividend and a dividend yield of 9.31%. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.50. Tallgrass Energy’s dividend payout ratio (DPR) is presently 268.42%.

In other news, Director Jeffrey A. Ball acquired 25,000 shares of Tallgrass Energy stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $21.41 per share, for a total transaction of $535,250.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David G. Dehaemers, Jr. acquired 15,000 shares of Tallgrass Energy stock in a transaction dated Monday, September 24th. The shares were purchased at an average price of $22.21 per share, for a total transaction of $333,150.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 56,777 shares of company stock worth $1,224,743.

Several institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. bought a new position in Tallgrass Energy during the 2nd quarter worth approximately $1,535,000. Ballentine Partners LLC bought a new position in Tallgrass Energy during the 2nd quarter worth approximately $494,000. Eagle Ridge Investment Management bought a new position in Tallgrass Energy during the 2nd quarter worth approximately $232,000. Bank of Montreal Can bought a new position in Tallgrass Energy during the 2nd quarter worth approximately $186,000. Finally, Baldwin Brothers Inc. MA bought a new position in Tallgrass Energy during the 2nd quarter worth approximately $173,000. Hedge funds and other institutional investors own 47.03% 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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