RBC Capital Keeps Their Buy Rating on Tallgrass Energy

By Austin Angelo

In a report released yesterday, Elvira Scotto from RBC Capital reiterated a Buy rating on Tallgrass Energy (NYSE: TEP), with a price target of $60. The company’s shares opened today at $51.16.

According to TipRanks.com, Scotto is a top 25 analyst with an average return of 20.7% and a 70.6% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Energy Transfer Partners LP, and Sanchez Production Partners.

Currently, the analyst consensus on Tallgrass Energy is Strong Buy and the average price target is $61.67, representing a 20.5% upside.

In a report issued on July 21, Scotiabank also maintained a Buy rating on the stock with a $56 price target.

The company has a one year high of $55.50 and a one year low of $42.59. Currently, Tallgrass Energy has an average volume of 258.1K.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TEP in relation to earlier this year. Most recently, in May 2017, David Dehaemers, the President & CEO of TEP bought 5,000 shares for a total of $248,750.

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.

Tallgrass Energy Partners LP owns, operates, acquires and develops midstream energy assets in North America. It operates through following segments: Natural Gas Transportation & Logistics, Crude Oil Transportation & Logistics and Processing & Logistics.