Equities research analysts expect Tallgrass Energy LP (NYSE:TGE) to announce sales of $220.05 million for the current quarter, Zacks reports. Two analysts have provided estimates for Tallgrass Energy’s earnings, with the lowest sales estimate coming in at $190.80 million and the highest estimate coming in at $249.30 million. Tallgrass Energy reported sales of $197.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The firm is scheduled to announce its next earnings results on Tuesday, May 5th.
According to Zacks, analysts expect that Tallgrass Energy will report full year sales of $886.40 million for the current fiscal year, with estimates ranging from $786.20 million to $986.60 million. For the next financial year, analysts anticipate that the business will report sales of $936.25 million, with estimates ranging from $821.90 million to $1.05 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Tallgrass Energy.
Tallgrass Energy (NYSE:TGE) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.31 EPS for the quarter, missing the Zacks’ 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 company had revenue of $232.96 million for the quarter, compared to analysts’ expectations of $229.50 million.
A number of brokerages recently commented on TGE. Piper Jaffray Companies set a $20.00 price objective on shares of Tallgrass Energy and gave the company a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research raised shares of Tallgrass Energy from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, January 28th. Wells Fargo & Co downgraded shares of Tallgrass Energy from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 7th. Finally, ValuEngine raised shares of Tallgrass Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $21.33.
TGE traded up $0.03 on Friday, reaching $22.30. 783,100 shares of the company traded hands, compared to its average volume of 3,191,428. The stock’s 50 day moving average price is $22.25 and its 200-day moving average price is $19.65. Tallgrass Energy has a 52-week low of $14.28 and a 52-week high of $25.96. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 14.97 and a beta of 0.72. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.63.
A number of hedge funds have recently bought and sold shares of TGE. Barclays PLC grew its position in Tallgrass Energy by 909.9% in the fourth quarter. Barclays PLC now owns 10,919,660 shares of the company’s stock worth $241,543,000 after acquiring an additional 9,838,418 shares in the last quarter. Alps Advisors Inc. grew its position in Tallgrass Energy by 36.0% in the third quarter. Alps Advisors Inc. now owns 18,985,835 shares of the company’s stock worth $382,375,000 after acquiring an additional 5,023,031 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Tallgrass Energy by 121.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,771,159 shares of the company’s stock worth $149,778,000 after acquiring an additional 3,708,760 shares in the last quarter. CNH Partners LLC grew its position in Tallgrass Energy by 8,694.5% in the fourth quarter. CNH Partners LLC now owns 3,078,072 shares of the company’s stock worth $68,087,000 after acquiring an additional 3,043,072 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Tallgrass Energy by 2,060.2% in the fourth quarter. Gabelli Funds LLC now owns 2,764,868 shares of the company’s stock worth $61,159,000 after acquiring an additional 2,636,875 shares in the last quarter. 55.42% of the stock is owned by institutional investors.
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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