Clinton Group Inc. purchased a new position in Tallgrass Energy GP, LP (NYSE:TEGP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 49,098 shares of the pipeline company’s stock, valued at approximately $1,249,000. Clinton Group Inc. owned about 0.08% of Tallgrass Energy GP, at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Arbitrage SA bought a new position in shares of Tallgrass Energy GP, during the 1st quarter worth about $115,000. SG Americas Securities LLC bought a new position in shares of Tallgrass Energy GP, during the 1st quarter worth about $119,000. Proficio Capital Partners LLC lifted its holdings in shares of Tallgrass Energy GP, by 18.5% during the 2nd quarter. Proficio Capital Partners LLC now owns 9,131 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 1,428 shares during the period. Brookstone Capital Management bought a new position in shares of Tallgrass Energy GP, during the 2nd quarter worth about $309,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Tallgrass Energy GP, by 10.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,629 shares of the pipeline company’s stock worth $321,000 after acquiring an additional 1,188 shares during the period. Institutional investors own 36.84% of the company’s stock.

TEGP has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 price objective on shares of Tallgrass Energy GP, in a report on Friday, August 18th. Robert W. Baird reaffirmed a “buy” rating and set a $32.00 price objective on shares of Tallgrass Energy GP, in a report on Tuesday, September 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $29.00 price objective (up from $28.00) on shares of Tallgrass Energy GP, in a report on Friday, July 14th. BidaskClub raised shares of Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $30.00 price objective on shares of Tallgrass Energy GP, in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.22.

Tallgrass Energy GP, LP (NYSE:TEGP) opened at 27.41 on Thursday. The company’s 50-day moving average is $27.53 and its 200 day moving average is $27.53. The company has a market capitalization of $1.59 billion, a P/E ratio of 40.55 and a beta of 2.17. Tallgrass Energy GP, LP has a one year low of $21.74 and a one year high of $29.30.

Tallgrass Energy GP, (NYSE:TEGP) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $166.78 million. Analysts predict that Tallgrass Energy GP, LP will post $0.93 EPS for the current year.

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Tallgrass Energy GP, Profile

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

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