The Tallgrass Energy GP LP (TEGP) Position Increased by Citadel Advisors LLC

The Tallgrass Energy GP LP (TEGP) Position Increased by Citadel Advisors LLC

Citadel Advisors LLC boosted its stake in Tallgrass Energy GP LP (NYSE:TEGP) by 62.4% during the third quarter, Holdings Channel reports. The fund owned 92,981 shares of the company’s stock after buying an additional 35,731 shares during the period. Citadel Advisors LLC’s holdings in Tallgrass Energy GP were worth $2,236,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC increased its stake in Tallgrass Energy GP by 51.0% in the second quarter. Catalyst Capital Advisors LLC now owns 103,047 shares of the company’s stock valued at $2,326,000 after buying an additional 34,808 shares during the period. BlackRock Fund Advisors increased its stake in Tallgrass Energy GP by 13.3% in the second quarter. BlackRock Fund Advisors now owns 13,554 shares of the company’s stock valued at $306,000 after buying an additional 1,591 shares during the period. Teacher Retirement System of Texas increased its stake in Tallgrass Energy GP by 10.3% in the second quarter. Teacher Retirement System of Texas now owns 6,500 shares of the company’s stock valued at $147,000 after buying an additional 605 shares during the period. UBS Asset Management Americas Inc. increased its stake in Tallgrass Energy GP by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 22,648 shares of the company’s stock valued at $511,000 after buying an additional 1,139 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Tallgrass Energy GP by 13,883.2% in the second quarter. JPMorgan Chase & Co. now owns 233,240 shares of the company’s stock valued at $5,265,000 after buying an additional 231,572 shares during the period. 81.74% of the stock is currently owned by institutional investors.

Shares of Tallgrass Energy GP LP (NYSE:TEGP) traded down 1.46% during mid-day trading on Thursday, reaching $26.37. The company’s stock had a trading volume of 184,573 shares. The firm’s 50-day moving average price is $25.77 and its 200 day moving average price is $24.45. Tallgrass Energy GP LP has a 12-month low of $9.66 and a 12-month high of $28.18. The firm has a market cap of $1.26 billion, a P/E ratio of 35.21 and a beta of 2.23.

A number of brokerages have recently issued reports on TEGP. Zacks Investment Research downgraded Tallgrass Energy GP from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Scotiabank downgraded Tallgrass Energy GP to a “hold” rating in a report on Thursday, December 15th. Howard Weil downgraded Tallgrass Energy GP to a “sector perform” rating in a report on Thursday, December 15th. They noted that the move was a valuation call. Goldman Sachs Group Inc. downgraded Tallgrass Energy GP from a “neutral” rating to a “sell” rating and lowered their price target for the company from $25.00 to $23.00 in a report on Thursday, December 15th. Finally, Stifel Nicolaus downgraded Tallgrass Energy GP from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Wednesday, December 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.22.

In related news, Director John T. Raymond sold 5,175,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $22.00, for a total transaction of $113,850,000.00. Following the transaction, the director now directly owns 235,000 shares in the company, valued at approximately $5,170,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Kelso Gp Viii, Llc sold 5,058,497 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $21.85, for a total value of $110,528,159.45. The disclosure for this sale can be found here.

About Tallgrass Energy GP

Tallgrass Energy GP, LP is a limited partnership company. The Company, through Tallgrass Energy Partners, LP (TEP), provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions through Pony Express. Its business segments include Crude Oil Transportation & Logistics Segment, which is engaged in the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics Segment, which is engaged in ownership and operation of FERC-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics Segment, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquids (NGL).

Want to see what other hedge funds are holding TEGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tallgrass Energy GP LP (NYSE:TEGP).

Related posts

Leave a Comment