JPMorgan Chase & Co. lessened its stake in Tallgrass Energy GP, LP (NYSE:TEGP) by 9.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 224,281 shares of the pipeline company’s stock after selling 24,155 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of Tallgrass Energy GP, worth $5,703,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TEGP. Janney Montgomery Scott LLC boosted its position in shares of Tallgrass Energy GP, by 1.6% during the second quarter. Janney Montgomery Scott LLC now owns 18,738 shares of the pipeline company’s stock worth $477,000 after buying an additional 289 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Tallgrass Energy GP, by 1.2% during 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 buying an additional 665 shares during the period. Global Endowment Management LP boosted its position in shares of Tallgrass Energy GP, by 5.1% during the first quarter. Global Endowment Management LP now owns 22,760 shares of the pipeline company’s stock worth $654,000 after buying an additional 1,100 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Tallgrass Energy GP, by 7.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,427 shares of the pipeline company’s stock worth $472,000 after buying an additional 1,142 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Tallgrass Energy GP, by 10.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 12,629 shares of the pipeline company’s stock worth $321,000 after buying an additional 1,188 shares during the period. Institutional investors own 36.84% of the company’s stock.

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Several research analysts recently commented on TEGP shares. Royal Bank Of Canada reissued a “hold” rating and set a $30.00 price target on shares of Tallgrass Energy GP, in a research report on Monday, July 31st. Robert W. Baird reissued a “buy” rating and set a $32.00 price target on shares of Tallgrass Energy GP, in a research report on Tuesday, September 26th. BidaskClub cut Tallgrass Energy GP, from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Barclays PLC increased their price target on Tallgrass Energy GP, from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research raised Tallgrass Energy GP, from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.22.

Tallgrass Energy GP, LP (NYSE:TEGP) traded down 0.43% during trading on Friday, reaching $27.95. The company’s stock had a trading volume of 163,661 shares. Tallgrass Energy GP, LP has a 12 month low of $21.74 and a 12 month high of $29.30. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 41.35 and a beta of 2.17. The stock’s 50 day moving average is $27.64 and its 200 day moving average is $27.64.

Tallgrass Energy GP, (NYSE:TEGP) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Tallgrass Energy GP, had a net margin of 5.91% and a return on equity of 2.01%. The business had revenue of $160.86 million for the quarter, compared to the consensus estimate of $166.78 million. On average, equities analysts expect that Tallgrass Energy GP, LP will post $0.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.355 per share. This is a boost from Tallgrass Energy GP,’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.08%. Tallgrass Energy GP,’s payout ratio is presently 201.47%.

Tallgrass Energy GP, Company Profile

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

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