ValuEngine Lowers Tallgrass Energy (NYSE:TGE) to Sell

ValuEngine lowered shares of Tallgrass Energy (NYSE:TGE) from a hold rating to a sell rating in a research note issued to investors on Friday, ValuEngine reports.

Other equities analysts have also issued reports about the company. Citigroup lowered Tallgrass Energy from a buy rating to a neutral rating and lowered their target price for the stock from $23.00 to $19.50 in a research report on Tuesday, October 15th. Stifel Nicolaus lowered Tallgrass Energy from a buy rating to a hold rating and set a $20.00 target price on the stock. in a research report on Friday, October 11th. Scotiabank assumed coverage on Tallgrass Energy in a research report on Tuesday, September 3rd. They set a sector perform rating and a $19.50 target price on the stock. Robert W. Baird lowered Tallgrass Energy from an outperform rating to a neutral rating and lowered their price target for the company from $28.00 to $20.00 in a research report on Thursday, August 29th. Finally, Zacks Investment Research raised Tallgrass Energy from a strong sell rating to a hold rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Tallgrass Energy presently has a consensus rating of Hold and a consensus target price of $21.73.

Shares of NYSE:TGE opened at $18.58 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.53. Tallgrass Energy has a twelve month low of $14.28 and a twelve month high of $25.96. The stock’s 50 day moving average is $19.48 and its 200-day moving average is $20.84. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 14.63 and a beta of 0.68.

Tallgrass Energy (NYSE:TGE) last issued its earnings results on Wednesday, October 30th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Tallgrass Energy had a return on equity of 11.24% and a net margin of 29.74%. The firm had revenue of $226.71 million for the quarter, compared to analyst estimates of $229.80 million. Equities research analysts anticipate that Tallgrass Energy will post 1.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 11.84%. The ex-dividend date of this dividend is Wednesday, October 30th. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.54. Tallgrass Energy’s dividend payout ratio is 173.23%.

Several hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of Tallgrass Energy by 36.0% during the 3rd quarter. Alps Advisors Inc. now owns 18,985,835 shares of the company’s stock worth $382,375,000 after acquiring an additional 5,023,031 shares during the period. SG Americas Securities LLC grew its stake in shares of Tallgrass Energy by 15.9% during the 3rd quarter. SG Americas Securities LLC now owns 36,667 shares of the company’s stock worth $738,000 after acquiring an additional 5,040 shares during the period. Creative Planning grew its stake in shares of Tallgrass Energy by 20.5% during the 3rd quarter. Creative Planning now owns 96,734 shares of the company’s stock worth $1,948,000 after acquiring an additional 16,426 shares during the period. Gabelli Funds LLC bought a new position in shares of Tallgrass Energy during the 3rd quarter worth $2,491,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Tallgrass Energy during the 3rd quarter worth $2,425,000. Institutional investors own 55.11% of the company’s stock.

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.

Featured Story: Why Invest in Dividend Achievers?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tallgrass Energy (NYSE:TGE)

Receive News & Ratings for Tallgrass Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tallgrass Energy and related companies with MarketBeat.com's FREE daily email newsletter.