Analysts Offer Insights on Materials Companies: Tallgrass Energy (NYSE: TEP) and MYR Group (NASDAQ: MYRG)

By Ryan Adsit

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Tallgrass Energy (NYSE: TEP) and MYR Group (NASDAQ: MYRG) with bullish sentiments.

Tallgrass Energy (NYSE: TEP)

In a report issued on December 4, Ethan Bellamy from Robert W. Baird reiterated a Buy rating on Tallgrass Energy (NYSE: TEP), with a price target of $67. The company’s shares closed yesterday at $43.42, close to its 52-week low of $41.13.

According to TipRanks.com, Bellamy is ranked 0 out of 5 stars with an average return of -4.1% and a 38.2% success rate. Bellamy covers the Basic Materials sector, focusing on stocks such as Vanguard Natural Resources LLC, Energy Transfer Partners LP, and Noble Midstream Partners LP.

Tallgrass Energy has an analyst consensus of Strong Buy, with a price target consensus of $59.25.

MYR Group (NASDAQ: MYRG)

Robert W. Baird analyst Andrew Wittmann reiterated a Buy rating on MYR Group (NASDAQ: MYRG) yesterday and set a price target of $38. The company’s shares closed yesterday at $35.46.

According to TipRanks.com, Wittmann is a 4-star analyst with an average return of 9.1% and a 76.2% success rate. Wittmann covers the Basic Materials sector, focusing on stocks such as Aecom Technology Corp, Jacobs Engineering, and Mistras Group Inc.

MYR Group has an analyst consensus of Moderate Buy, with a price target consensus of $35.50.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.