Oppenheimer Asset Management Inc. Has $402,000 Stock Holdings in Tallgrass Energy LP (NYSE:TGE)

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Oppenheimer Asset Management Inc. decreased its position in shares of Tallgrass Energy LP (NYSE:TGE) by 30.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,051 shares of the company’s stock after selling 8,523 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tallgrass Energy were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jackson Hole Capital Partners LLC boosted its holdings in shares of Tallgrass Energy by 1.3% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 56,825 shares of the company’s stock valued at $1,429,000 after acquiring an additional 716 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Tallgrass Energy by 14.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,734 shares of the company’s stock valued at $194,000 after acquiring an additional 985 shares in the last quarter. Northern Oak Wealth Management Inc. boosted its holdings in shares of Tallgrass Energy by 11.4% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 9,800 shares of the company’s stock valued at $207,000 after acquiring an additional 1,000 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Tallgrass Energy by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 32,574 shares of the company’s stock valued at $688,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Tallgrass Energy by 1.7% during the 2nd quarter. Creative Planning now owns 80,308 shares of the company’s stock valued at $1,695,000 after acquiring an additional 1,374 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on TGE shares. Scotiabank started coverage on Tallgrass Energy in a research report on Tuesday, September 3rd. They set a “sector perform” rating and a $19.50 target price for the company. Piper Jaffray Companies started coverage on Tallgrass Energy in a research report on Wednesday, July 17th. They set a “neutral” rating and a $25.00 target price for the company. Zacks Investment Research raised Tallgrass Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America raised Tallgrass Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird lowered Tallgrass Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $20.00 in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Tallgrass Energy currently has an average rating of “Hold” and an average price target of $23.50.

NYSE:TGE traded down $0.03 during trading hours on Thursday, hitting $19.94. 49,975 shares of the company were exchanged, compared to its average volume of 1,366,356. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.69. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 1.51. Tallgrass Energy LP has a one year low of $14.28 and a one year high of $25.96. The company has a fifty day simple moving average of $18.09 and a 200 day simple moving average of $22.08.

Tallgrass Energy (NYSE:TGE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $226.00 million. Equities research analysts predict that Tallgrass Energy LP will post 1.49 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $2.16 dividend on an annualized basis and a yield of 10.83%. This is an increase from Tallgrass Energy’s previous quarterly dividend of $0.53. Tallgrass Energy’s payout ratio is 170.08%.

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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