Tallgrass Energy GP, LP (NYSE:TEGP) had its price target increased by equities researchers at Barclays PLC from $33.00 to $35.00 in a note issued to investors on Friday. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Barclays PLC’s price target points to a potential upside of 39.83% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Tallgrass Energy GP, from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. TheStreet raised Tallgrass Energy GP, from an “e+” rating to a “c” rating in a report on Wednesday, May 17th. Scotiabank reissued a “hold” rating and set a $28.00 price objective on shares of Tallgrass Energy GP, in a report on Thursday, April 27th. Morgan Stanley reissued an “equal weight” rating and set a $29.00 price objective (up previously from $28.00) on shares of Tallgrass Energy GP, in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $31.00 price objective on shares of Tallgrass Energy GP, in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.60.

Tallgrass Energy GP, (NYSE:TEGP) traded down 3.62% on Friday, reaching $25.03. The company had a trading volume of 156,416 shares. The stock’s 50-day moving average price is $25.02 and its 200-day moving average price is $26.76. The stock has a market capitalization of $1.45 billion, a P/E ratio of 41.24 and a beta of 2.17. Tallgrass Energy GP, has a 12-month low of $21.74 and a 12-month high of $29.50.

Tallgrass Energy GP, (NYSE:TEGP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $160.86 million for the quarter, compared to analysts’ expectations of $166.78 million. Tallgrass Energy GP, had a return on equity of 2.01% and a net margin of 5.91%. On average, equities research analysts anticipate that Tallgrass Energy GP, will post $0.83 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in TEGP. Ballentine Partners LLC acquired a new stake in Tallgrass Energy GP, during the second quarter valued at $497,000. Proficio Capital Partners LLC boosted its stake in Tallgrass Energy GP, by 18.5% in the second 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 last quarter. Alps Advisors Inc. boosted its stake in Tallgrass Energy GP, by 8.8% in the second quarter. Alps Advisors Inc. now owns 209,549 shares of the pipeline company’s stock valued at $5,329,000 after buying an additional 16,911 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in Tallgrass Energy GP, by 8.9% in the second quarter. Catalyst Capital Advisors LLC now owns 241,898 shares of the pipeline company’s stock valued at $6,151,000 after buying an additional 19,678 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in Tallgrass Energy GP, by 67.3% in the second quarter. Global X Management Co. LLC now owns 409,973 shares of the pipeline company’s stock valued at $10,426,000 after buying an additional 164,963 shares during the last quarter.

Tallgrass Energy GP, Company Profile

Analyst Recommendations for Tallgrass Energy GP, (NYSE:TEGP)

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