Catalyst Capital Advisors LLC boosted its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 8.9% during the second quarter, Holdings Channel reports. The fund owned 241,898 shares of the pipeline company’s stock after buying an additional 19,678 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tallgrass Energy GP, were worth $6,151,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Tallgrass Energy GP, by 0.6% in the first quarter. Bank of Montreal Can now owns 22,158 shares of the pipeline company’s stock valued at $637,000 after buying an additional 126 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Tallgrass Energy GP, by 8.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,449 shares of the pipeline company’s stock valued at $531,000 after buying an additional 1,367 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Tallgrass Energy GP, by 14.4% in the first quarter. Wells Fargo & Company MN now owns 51,146 shares of the pipeline company’s stock valued at $1,471,000 after buying an additional 6,421 shares during the last quarter. US Bancorp DE raised its position in shares of Tallgrass Energy GP, by 1,480.2% in the first quarter. US Bancorp DE now owns 30,798 shares of the pipeline company’s stock valued at $886,000 after buying an additional 28,849 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Tallgrass Energy GP, by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock valued at $1,655,000 after buying an additional 665 shares during the last quarter.

Shares of Tallgrass Energy GP, LP (NYSE TEGP) opened at 24.21 on Friday. Tallgrass Energy GP, LP has a 52 week low of $21.74 and a 52 week high of $29.50. The stock’s 50 day moving average is $25.37 and its 200 day moving average is $26.66. The firm has a market cap of $1.41 billion, a P/E ratio of 35.81 and a beta of 2.17.

Tallgrass Energy GP, (NYSE:TEGP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.08. Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. The business had revenue of $160.86 million for the quarter, compared to the consensus estimate of $166.78 million. On average, equities research analysts predict that Tallgrass Energy GP, LP will post $0.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 28th will be given a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Wednesday, July 26th. This is an increase from Tallgrass Energy GP,’s previous quarterly dividend of $0.29. Tallgrass Energy GP,’s dividend payout ratio is currently 201.47%.

ILLEGAL ACTIVITY WARNING: “Catalyst Capital Advisors LLC Raises Stake in Tallgrass Energy GP, LP (NYSE:TEGP)” was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/12/catalyst-capital-advisors-llc-raises-stake-in-tallgrass-energy-gp-lp-nysetegp.html.

TEGP has been the topic of several research reports. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Tallgrass Energy GP, in a report on Thursday, April 20th. Macquarie started coverage on shares of Tallgrass Energy GP, in a research note on Friday, April 21st. They set an “outperform” rating and a $32.00 target price for the company. Scotiabank reiterated a “hold” rating and set a $28.00 target price on shares of Tallgrass Energy GP, in a research note on Thursday, April 27th. Zacks Investment Research downgraded shares of Tallgrass Energy GP, from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 28th. Finally, TheStreet upgraded shares of Tallgrass Energy GP, from an “e+” rating to a “c” rating in a research note on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.78.

About Tallgrass Energy GP,

Want to see what other hedge funds are holding TEGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy GP, LP (NYSE:TEGP).

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

Receive News & Ratings for Tallgrass Energy GP LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy GP LP and related companies with MarketBeat.com's FREE daily email newsletter.