Invesco Ltd. Buys 25,043,223 Shares of Tallgrass Energy LP (NYSE:TGE)

Invesco Ltd. raised its stake in Tallgrass Energy LP (NYSE:TGE) by 124,475.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,063,342 shares of the company’s stock after purchasing an additional 25,043,223 shares during the period. Invesco Ltd. owned approximately 8.91% of Tallgrass Energy worth $529,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TGE. Clearbridge Investments LLC lifted its holdings in shares of Tallgrass Energy by 3.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,220,606 shares of the company’s stock worth $131,246,000 after acquiring an additional 165,139 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Tallgrass Energy by 10.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,147,081 shares of the company’s stock worth $24,215,000 after acquiring an additional 111,184 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Tallgrass Energy by 58.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,107,285 shares of the company’s stock worth $23,375,000 after acquiring an additional 408,955 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Tallgrass Energy by 16.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 1,071,077 shares of the company’s stock worth $26,927,000 after acquiring an additional 149,500 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of Tallgrass Energy by 87.5% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 685,997 shares of the company’s stock worth $14,481,000 after acquiring an additional 320,211 shares during the period. 55.32% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:TGE traded down $0.03 during trading on Wednesday, hitting $20.07. 12,419 shares of the company’s stock were exchanged, compared to its average volume of 3,525,006. Tallgrass Energy LP has a 1-year low of $14.28 and a 1-year high of $25.96. The firm has a 50-day moving average price of $17.97 and a two-hundred day moving average price of $22.00. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51. The firm has a market cap of $5.65 billion, a P/E ratio of 15.78, a PEG ratio of 1.93 and a beta of 0.69.

Tallgrass Energy (NYSE:TGE) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Tallgrass Energy had a return on equity of 10.71% and a net margin of 29.12%. The business had revenue of $211.52 million for the quarter, compared to analyst estimates of $226.00 million. As a group, research analysts predict that Tallgrass Energy LP will post 1.49 EPS for the current year.

Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Tallgrass Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 28th. Bank of America upgraded shares of Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 29th. TheStreet cut shares of Tallgrass Energy from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. Robert W. Baird cut shares of Tallgrass Energy from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $20.00 in a research report on Thursday, August 29th. Finally, Citigroup assumed coverage on shares of Tallgrass Energy in a research report on Tuesday, June 25th. They issued a “buy” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.50.

About Tallgrass Energy

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, 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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Institutional Ownership by Quarter for Tallgrass Energy (NYSE:TGE)

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