Revenue Update on Tallgrass Energy GP LP(NYSE:TEGP)

Tallgrass Energy GP LP(NYSE:TEGP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $146.93M. Analysts estimated a revenue of $150.64M. Earnings per share were $0.07. Analysts had estimated an EPS of $0.23.

In a different note, On Jul 28, 2016, Barclays said it Maintains its rating on Tallgrass Energy GP LP. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 19, 2016, Credit Suisse said it Maintains its rating on Tallgrass Energy GP LP. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 6, 2016, Baird said it Upgrades its rating on Tallgrass Energy GP LP. The shares have been rated ‘Outperform’ by the firm.

Tallgrass Energy GP LP (TEGP) made into the market gainers list on Fridays trading session with the shares advancing 0.04% or 0.01 points. Due to strong positive momentum, the stock ended at $24.5, which is also near the day’s high of $24.9. The stock began the session at $24.59 and the volume stood at 3,12,371 shares. The 52-week high of the shares is $29.785 and the 52 week low is $9.66. The company has a current market capitalization of $3,852 M and it has 15,72,29,440 shares in outstanding.

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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