Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Tallgrass Energy GP (TEGP) Share Price
News coverage about Tallgrass Energy GP (NYSE:TEGP) has trended somewhat positive on Monday, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tallgrass Energy GP earned a news impact score of 0.13 on Accern’s scale. Accern also assigned news stories about the pipeline company an impact score of 46.39999963176 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Several equities analysts recently issued reports on TEGP shares. Robert W. Baird set a $32.00 price objective on shares of Tallgrass Energy GP and gave the company a “buy” rating in a research note on Tuesday, February 27th. TheStreet downgraded shares of Tallgrass Energy GP from a “c-” rating to a “d” rating in a research note on Wednesday, February 14th. Stifel Nicolaus set a $25.00 price objective on shares of Tallgrass Energy GP and gave the company a “buy” rating in a research note on Wednesday, February 14th. Zacks Investment Research downgraded shares of Tallgrass Energy GP from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 14th. Finally, Barclays downgraded shares of Tallgrass Energy GP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $30.00 to $25.00 in a research note on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.22.
Tallgrass Energy GP (NYSE:TEGP) opened at $19.98 on Monday. Tallgrass Energy GP has a 52-week low of $19.75 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.52 and a current ratio of 0.61. The company has a market cap of $3,692.18, a P/E ratio of -9.00, a P/E/G ratio of 2.43 and a beta of 1.91.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.3675 per share. This is a positive change from Tallgrass Energy GP’s previous quarterly dividend of $0.36. The ex-dividend date was Tuesday, January 30th. This represents a $1.47 annualized dividend and a yield of 7.36%. Tallgrass Energy GP’s dividend payout ratio is -66.22%.
About Tallgrass Energy GP
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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