Alps Advisors Inc. Reduces Position in Tallgrass Energy GP, LP (TEGP)

Alps Advisors Inc. cut its position in shares of Tallgrass Energy GP, LP (NYSE:TEGP) by 75.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,335 shares of the pipeline company’s stock after selling 157,214 shares during the quarter. Alps Advisors Inc.’s holdings in Tallgrass Energy GP, were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Tallgrass Energy GP, by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 57,562 shares of the pipeline company’s stock worth $1,655,000 after acquiring an additional 665 shares in the last quarter. SG Americas Securities LLC bought a new stake in Tallgrass Energy GP, in the first quarter worth $119,000. Alliancebernstein L.P. boosted its holdings in Tallgrass Energy GP, by 34.9% in the first quarter. Alliancebernstein L.P. now owns 12,591 shares of the pipeline company’s stock worth $362,000 after acquiring an additional 3,260 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Tallgrass Energy GP, by 630.2% in the first quarter. Renaissance Technologies LLC now owns 204,645 shares of the pipeline company’s stock worth $5,886,000 after acquiring an additional 176,619 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Tallgrass Energy GP, by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 155,086 shares of the pipeline company’s stock worth $4,460,000 after acquiring an additional 16,479 shares in the last quarter. Institutional investors own 36.64% of the company’s stock.

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In other Tallgrass Energy GP, news, insider David G. Dehaemers, Jr. purchased 5,428 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $25.04 per share, for a total transaction of $135,917.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Gerke purchased 9,800 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of $25.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here.

TEGP has been the topic of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 target price on shares of Tallgrass Energy GP, in a report on Sunday, October 29th. Barclays PLC reissued a “buy” rating and issued a $34.00 target price on shares of Tallgrass Energy GP, in a report on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and issued a $32.00 target price on shares of Tallgrass Energy GP, in a report on Tuesday, September 26th. Zacks Investment Research raised Tallgrass Energy GP, from a “strong sell” rating to a “hold” rating in a report on Thursday, September 21st. Finally, BidaskClub raised Tallgrass Energy GP, from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Tallgrass Energy GP, currently has an average rating of “Hold” and an average price target of $30.11.

Tallgrass Energy GP, LP (TEGP) traded down $0.12 during mid-day trading on Monday, hitting $24.83. The stock had a trading volume of 102,600 shares, compared to its average volume of 203,366. Tallgrass Energy GP, LP has a 52-week low of $21.87 and a 52-week high of $29.50. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3,904.01, a PE ratio of 31.04, a P/E/G ratio of 3.17 and a beta of 2.08.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a $0.355 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.72%. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. Tallgrass Energy GP,’s payout ratio is currently 171.25%.

About Tallgrass Energy GP,

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Institutional Ownership by Quarter for Tallgrass Energy GP, (NYSE:TEGP)

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