Morgan Stanley Initiates Coverage on Tallgrass Energy GP LP to Equal-weight

Morgan Stanley Initiates Coverage on Tallgrass Energy GP LP(NYSE:TEGP). The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Apr 12, 2016.

In a different note, On Feb 18, 2016, Barclays said it Maintains its rating on Tallgrass Energy GP LP. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Overweight’ by the firm. On Feb 18, 2016, Credit Suisse said it Maintains its rating on Tallgrass Energy GP LP. In the research note, the firm Lowers the price-target to $29.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 8, 2016, Baird said it Downgrades its rating on Tallgrass Energy GP LP. The shares have been rated ‘Neutral’ by the firm. On Jan 28, 2016, Stifel Nicolaus said it Downgrades its rating on Tallgrass Energy GP LP. The shares have been rated ‘Hold’ by the firm.

Tallgrass Energy GP LP (TEGP) shares turned negative on Fridays trading session with the shares closing down -0.23 points or -1.35% at a volume of 1,41,828. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.31. The peak price level was also seen at $17.31 while the days lowest was $16.57. Finally the shares closed at $16.75. The 52-week high of the shares is $34.98 while the 52-week low is $9.66. According to the latest information available, the market cap of the company is $2,634 M.

Tallgrass Energy GP LP(TEGP) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Earnings per share were $0.37.

Several Insider Transactions has been reported to the SEC. On Dec 11, 2015, Gary J Brauchle (officer ) purchased 6,450 shares at $16.13 per share price.Also, On Dec 11, 2015, David G Jr Dehaemers (CEO) purchased 25,000 shares at $16.04 per share price.On May 12, 2015, John T Raymond (director 10% owner) purchased 235,000 shares at $29.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Tallgrass Energy GP LP (TEGP) is a limited partnership company. The Company holds indirect interests in the general partner of Tallgrass Energy Partners LP (TEP) including all of TEP’s incentive distribution rights. TEP is engaged in the transportation storage and processing of natural gas the transportation of crude oil and the provision of water business services primarily to the oil and gas exploration and production industry. TEP’s business segments are Natural Gas Transportation & Logistics which includes the ownership and operation of interstate natural gas pipelines and natural gas storage facilities; Crude Oil Transportation & Logistics which includes the ownership and operation of a crude oil pipeline system and Processing & Logistics which includes the ownership and operation of natural gas processing treating and fractionation facilities as well as water business services provided to the oil and gas exploration and production industry.

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