Williams Jones & Associates LLC cut its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 25.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,425 shares of the pipeline company’s stock after selling 24,125 shares during the quarter. Williams Jones & Associates LLC owned about 0.12% of Tallgrass Energy GP, worth $1,791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings in shares of Tallgrass Energy GP, by 14.4% during the 1st quarter. Wells Fargo & Company MN now owns 51,146 shares of the pipeline company’s stock worth $1,471,000 after acquiring an additional 6,421 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Tallgrass Energy GP, by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock valued at $1,655,000 after acquiring an additional 665 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Tallgrass Energy GP, during the 1st quarter valued at about $115,000. Swiss National Bank boosted its position in shares of Tallgrass Energy GP, by 3.6% during the 1st quarter. Swiss National Bank now owns 86,100 shares of the pipeline company’s stock valued at $2,476,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of Tallgrass Energy GP, in the first quarter valued at about $413,000. 36.84% of the stock is owned by institutional investors and hedge funds.

Shares of Tallgrass Energy GP, LP (NYSE:TEGP) remained flat at $27.65 during midday trading on Wednesday. 13,469 shares of the stock traded hands. Tallgrass Energy GP, LP has a 52 week low of $21.74 and a 52 week high of $29.30. The stock has a 50 day moving average price of $27.54 and a 200-day moving average price of $27.54. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 40.90 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). Tallgrass Energy GP, had a return on equity of 2.01% and a net margin of 5.91%. The firm had revenue of $160.86 million during the quarter, compared to analysts’ expectations of $166.78 million. On average, equities analysts expect that Tallgrass Energy GP, LP will post $0.93 earnings per share for the current fiscal year.

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TEGP has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $30.00 price objective on shares of Tallgrass Energy GP, in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $32.00 target price on shares of Tallgrass Energy GP, in a report on Tuesday, September 26th. BidaskClub lowered shares of Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC increased 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Tallgrass Energy GP, presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Tallgrass Energy GP, Profile

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

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