$0.26 EPS Expected for Tallgrass Energy LP (NYSE:TGE) This Quarter

Brokerages expect that Tallgrass Energy LP (NYSE:TGE) will post earnings of $0.26 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Tallgrass Energy’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.25. Tallgrass Energy posted earnings per share of $0.31 during the same quarter last year, which would suggest a negative year over year growth rate of 16.1%. The business is expected to announce its next earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that Tallgrass Energy will report full year earnings of $1.00 per share for the current fiscal year, with EPS estimates ranging from $0.83 to $1.14. For the next year, analysts forecast that the company will post earnings of $1.06 per share, with EPS estimates ranging from $0.96 to $1.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Tallgrass Energy.

Tallgrass Energy (NYSE:TGE) last announced its earnings results on Wednesday, February 12th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Tallgrass Energy had a net margin of 29.74% and a return on equity of 11.24%. The business had revenue of $232.96 million for the quarter, compared to analysts’ expectations of $229.50 million.

TGE has been the subject of several research analyst reports. Wells Fargo & Co lowered Tallgrass Energy from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 7th. Zacks Investment Research raised Tallgrass Energy from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, January 28th. ValuEngine raised Tallgrass Energy from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Finally, Piper Jaffray Companies set a $20.00 price objective on Tallgrass Energy and gave the stock a “hold” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP acquired a new position in shares of Tallgrass Energy in the 1st quarter valued at $452,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Tallgrass Energy in the 1st quarter valued at $11,580,000. Northern Trust Corp raised its stake in shares of Tallgrass Energy by 1.0% in the 2nd quarter. Northern Trust Corp now owns 218,131 shares of the company’s stock valued at $4,605,000 after buying an additional 2,234 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Tallgrass Energy by 42.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,533 shares of the company’s stock valued at $286,000 after buying an additional 4,043 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Tallgrass Energy by 13.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 96,274 shares of the company’s stock valued at $2,032,000 after buying an additional 11,627 shares in the last quarter. 55.42% of the stock is owned by institutional investors.

Shares of Tallgrass Energy stock traded up $0.03 during trading hours on Friday, hitting $22.30. 783,100 shares of the company’s stock traded hands, compared to its average volume of 3,191,428. Tallgrass Energy has a 12-month low of $14.28 and a 12-month high of $25.96. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 14.97 and a beta of 0.72. The company has a fifty day simple moving average of $22.25 and a 200-day simple moving average of $19.65. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.63.

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 and Estimates for Tallgrass Energy (NYSE:TGE)

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