The Tallgrass Energy LP (NYSE:TGE) is going up by 0.44% in today’s trading session, a rise equivalent to 0.08% of the stock’s price from yesterday’s market close. A news came out on 10/30/19 stating that Tallgrass Energy Reports Strong Third Quarter 2019 Results by WSJ. The lowest point that the shares touched during the trading session was $17.90, while the peak of the day was recorded at a share price of $18.54. TGE finished the previous session at $18.06 according to the data provided by Barchart, while the trading volume was observed to be $1371645.
In the 100 days of trading, TGE managed to top a 19.38% Moving average. Additionally, Tallgrass Energy LP shares have achieved a 52-week range between 14.28 and 25.96 alongside 100 days raw stochastic set at 46.76%.
The number of shares outstanding, according to the fundamentals of the company, is set at 283.46M, equal to the value of $5.12B in market capitalization. In the last 30 days, Tallgrass Energy LP shares went down by -9.86%, adding 20.08 to growth in value, on top of a +1.12% boost since 10/08/19.
Tallgrass Energy LP (NYSE:TGE) Analyst’s Estimates
Tallgrass Energy LP (TGE) could record at least $0.34 per share in quarterly earnings in the upcoming report on 02/12/2020, a number that would actually represent an increase of 1.11 YOY.
On October 11, 2019, the stock earned a Downgrade rating due to a new analyst call from Stifel, while analysts from Piper Jaffray believe that the stock is set at Neutral, as concluded on July 17, 2019. Goldman, is still rather wary about the stock, deciding to keep the rating at Neutral as confirmed through a call on April 03, 2019.
Regardless of the rating, Credit Suisse did decrease their price from $26 to $25 as they are considering target share price analysis. BofA/Merrill, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on January 11, 2019, giving the stock a Underperform rating.
TGE Key Ratios To Watch:
Taking in account the profitability of the Company, gross profit margin of +54.02% has been attained, while the operating margin has been recorded at +40.60%. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 2.69%. Beta value of the stock is recorded at 0.64. Additionally, Tallgrass Energy LP is recording price volatility of 1.94% for the period of the last seven days and 2.15% in the last 30 days.
Tallgrass Energy LP (NYSE:TGE) Technical Outlook
For the period of the last 50 days, Tallgrass Energy LP had its Raw Stochastic average set at 8.00% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 12.66%. Stochastic %K for Tallgrass Energy LP, with the last 20 days included, was set at 12.02%, having Stochastic %D topping 13.21%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be discouraging for Tallgrass Energy LP stocks with recording -25.80% in metrics.
Tallgrass Energy LP Insider Watch:
Similarly, 127.89% of the company’s float is held by institutions – and there are 246 institutions in total holding shares of this company. The top three institutional holders of TGE stocks are: Invesco Ltd. with ownership of $529.0 million, which is approximately 25063342 of the company’s shares; Blackstone Group Inc., holding 23652463 shares of the stock with an approximate value of $499.0 million; and Tortoise Capital Advisors, LLC, currently with more than 19292154 shares of the company valued at $407.0 million. Positions in Tallgrass Energy LP stocks held by institutional investors has been changing actively in the past six months, a period during which there were 33 insider purchases amounting to 2679480 shares.