Analysts at Credit Suisse Group initiated coverage on shares of Tallgrass Energy (NYSE:TGE) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $29.00 price target on the stock. Credit Suisse Group’s price objective points to a potential upside of 23.14% from the company’s current price.

Other research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. US Capital Advisors restated a “hold” rating on shares of Tallgrass Energy in a research report on Tuesday, July 17th. Stifel Nicolaus boosted their price objective on shares of Tallgrass Energy from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Barclays began coverage on shares of Tallgrass Energy in a research report on Thursday, August 16th. They set an “equal weight” rating and a $26.00 price objective for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Tallgrass Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.71.

NYSE TGE opened at $23.55 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.60. Tallgrass Energy has a 1-year low of $17.14 and a 1-year high of $28.94. The company has a market capitalization of $6.61 billion, a PE ratio of 30.99 and a beta of 1.91.

Tallgrass Energy (NYSE:TGE) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Tallgrass Energy had a negative net margin of 18.21% and a positive return on equity of 2.03%. The business had revenue of $193.59 million during the quarter, compared to analyst estimates of $200.50 million. On average, sell-side analysts anticipate that Tallgrass Energy will post 1.25 earnings per share for the current year.

In other news, insider David G. Dehaemers, Jr. acquired 15,000 shares of the stock in a transaction on Monday, September 24th. The stock was acquired at an average cost of $22.21 per share, for a total transaction of $333,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

A number of institutional investors and hedge funds have recently made changes to their positions in TGE. BNP Paribas Arbitrage SA acquired a new position in shares of Tallgrass Energy during the second quarter worth $115,000. Baldwin Brothers Inc. MA acquired a new position in shares of Tallgrass Energy during the second quarter worth $173,000. Bank of Montreal Can acquired a new position in shares of Tallgrass Energy during the second quarter worth $186,000. Eagle Ridge Investment Management acquired a new position in shares of Tallgrass Energy during the second quarter worth $232,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of Tallgrass Energy during the second quarter worth $275,000. Institutional investors and hedge funds own 23.35% of the company’s stock.

Tallgrass Energy Company Profile

Tallgrass Energy, LP, through its interests in Tallgrass Equity, LLC, provides crude oil transportation services to customers in Wyoming, Colorado, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling.

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Analyst Recommendations for Tallgrass Energy (NYSE:TGE)

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