Tallgrass Energy (NYSE:TGE) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Tallgrass Energy (NYSE:TGE) issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09), Fidelity Earnings reports. The company had revenue of $197.35 million during the quarter, compared to analysts’ expectations of $236.40 million. Tallgrass Energy had a return on equity of 7.62% and a net margin of 21.07%.

Shares of NYSE:TGE opened at $23.68 on Friday. Tallgrass Energy has a 12-month low of $20.36 and a 12-month high of $26.35. The stock has a market cap of $6.75 billion, a PE ratio of 18.65, a P/E/G ratio of 2.32 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.53 per share. This is a boost from Tallgrass Energy’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date of this dividend was Monday, April 29th. Tallgrass Energy’s dividend payout ratio (DPR) is 166.93%.

TGE has been the subject of several research reports. Goldman Sachs Group lowered Tallgrass Energy from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Tuesday, April 2nd. TheStreet upgraded Tallgrass Energy from a “c” rating to a “b-” rating in a research report on Thursday, April 4th. Zacks Investment Research downgraded Tallgrass Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 21st. Finally, Credit Suisse Group downgraded Tallgrass Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $25.00 in a research report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.38.

In other news, major shareholder Private Ltd Gic acquired 85,225 shares of the business’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $24.04 per share, with a total value of $2,048,809.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John T. Raymond sold 46,386,232 shares of Tallgrass Energy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.52, for a total value of $487,983,160.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 1,973,906 shares of company stock worth $47,613,357 and have sold 46,405,689 shares worth $488,446,299. 28.59% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Tallgrass Energy stock. Dimensional Fund Advisors LP bought a new stake in shares of Tallgrass Energy LP (NYSE:TGE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,272 shares of the company’s stock, valued at approximately $250,000. 56.37% of the stock is owned by institutional investors and hedge funds.

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Tallgrass Energy Company Profile

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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Earnings History for Tallgrass Energy (NYSE:TGE)

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