Alps Advisors Inc. lifted its stake in shares of Tallgrass Energy GP LP (NYSE:TEGP) by 14.0% during the fourth quarter, HoldingsChannel reports. The firm owned 59,653 shares of the pipeline company’s stock after acquiring an additional 7,318 shares during the period. Alps Advisors Inc.’s holdings in Tallgrass Energy GP were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in Tallgrass Energy GP by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,858 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 330 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Tallgrass Energy GP by 816.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,234 shares of the pipeline company’s stock worth $159,000 after acquiring an additional 5,554 shares in the last quarter. Summit Asset Management LLC bought a new stake in Tallgrass Energy GP in the third quarter worth about $215,000. BlueCrest Capital Management Ltd bought a new stake in Tallgrass Energy GP in the second quarter worth about $219,000. Finally, SG Americas Securities LLC bought a new stake in Tallgrass Energy GP in the fourth quarter worth about $283,000. Institutional investors and hedge funds own 36.23% of the company’s stock.

Several equities research analysts have commented on the stock. Stifel Nicolaus set a $26.00 price target on shares of Tallgrass Energy GP and gave the stock a “buy” rating in a research report on Thursday. BidaskClub cut shares of Tallgrass Energy GP from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Robert W. Baird reiterated a “buy” rating and issued a $33.00 price target on shares of Tallgrass Energy GP in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley dropped their price target on shares of Tallgrass Energy GP from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating, four have assigned 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 target price of $29.78.

Tallgrass Energy GP LP (TEGP) opened at $22.78 on Friday. The firm has a market capitalization of $3,738.92, a PE ratio of 28.48, a P/E/G ratio of 2.86 and a beta of 1.75. Tallgrass Energy GP LP has a 12 month low of $21.79 and a 12 month high of $29.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.55 and a quick ratio of 0.50.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.47 dividend on an annualized basis and a yield of 6.45%. This is a boost from Tallgrass Energy GP’s previous quarterly dividend of $0.36. Tallgrass Energy GP’s dividend payout ratio (DPR) is currently 183.75%.

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Tallgrass Energy GP Profile

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP’s subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP’s segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

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

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