Intrinsic value of Tallgrass Energy GP Cl A - TEGP

Previous Close

$25.34

  Intrinsic Value

$23.76

stock screener

  Rating & Target

hold

-6%

Previous close

$25.34

 
Intrinsic value

$23.76

 
Up/down potential

-6%

 
Rating

hold

We calculate the intrinsic value of TEGP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.87
  15.00
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
Revenue, $m
  605
  696
  793
  897
  1,007
  1,124
  1,246
  1,375
  1,509
  1,650
  1,796
  1,949
  2,107
  2,272
  2,443
  2,622
  2,807
  2,999
  3,199
  3,407
  3,623
  3,848
  4,083
  4,327
  4,582
  4,848
  5,125
  5,414
  5,716
  6,032
  6,362
Variable operating expenses, $m
 
  105
  115
  126
  137
  149
  162
  175
  189
  203
  218
  199
  216
  232
  250
  268
  287
  307
  327
  349
  371
  394
  418
  443
  469
  496
  524
  554
  585
  617
  651
Fixed operating expenses, $m
 
  268
  274
  281
  288
  295
  303
  310
  318
  326
  334
  342
  351
  360
  369
  378
  387
  397
  407
  417
  428
  438
  449
  461
  472
  484
  496
  508
  521
  534
  547
Total operating expenses, $m
  351
  373
  389
  407
  425
  444
  465
  485
  507
  529
  552
  541
  567
  592
  619
  646
  674
  704
  734
  766
  799
  832
  867
  904
  941
  980
  1,020
  1,062
  1,106
  1,151
  1,198
Operating income, $m
  254
  323
  403
  490
  582
  679
  782
  890
  1,003
  1,121
  1,244
  1,407
  1,541
  1,680
  1,825
  1,975
  2,132
  2,295
  2,465
  2,641
  2,825
  3,016
  3,216
  3,424
  3,641
  3,868
  4,105
  4,352
  4,610
  4,881
  5,164
EBITDA, $m
  346
  448
  542
  642
  748
  861
  979
  1,104
  1,235
  1,371
  1,514
  1,662
  1,817
  1,977
  2,145
  2,319
  2,500
  2,688
  2,884
  3,087
  3,299
  3,520
  3,751
  3,991
  4,241
  4,503
  4,776
  5,061
  5,359
  5,671
  5,997
Interest expense (income), $m
  34
  54
  70
  89
  108
  129
  151
  174
  199
  224
  250
  278
  307
  337
  368
  400
  434
  469
  505
  543
  582
  623
  665
  709
  755
  804
  854
  906
  960
  1,017
  1,077
Earnings before tax, $m
  261
  268
  333
  401
  473
  550
  631
  715
  804
  897
  994
  1,129
  1,234
  1,343
  1,457
  1,575
  1,698
  1,826
  1,960
  2,098
  2,243
  2,394
  2,551
  2,715
  2,886
  3,064
  3,251
  3,446
  3,650
  3,863
  4,087
Tax expense, $m
  18
  72
  90
  108
  128
  148
  170
  193
  217
  242
  268
  305
  333
  363
  393
  425
  459
  493
  529
  567
  606
  646
  689
  733
  779
  827
  878
  930
  986
  1,043
  1,103
Net income, $m
  27
  196
  243
  293
  346
  401
  460
  522
  587
  655
  725
  824
  901
  981
  1,064
  1,150
  1,240
  1,333
  1,431
  1,532
  1,637
  1,747
  1,862
  1,982
  2,107
  2,237
  2,373
  2,516
  2,665
  2,820
  2,983

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,625
  4,166
  4,749
  5,372
  6,032
  6,729
  7,463
  8,233
  9,038
  9,879
  10,756
  11,669
  12,618
  13,605
  14,632
  15,698
  16,806
  17,958
  19,155
  20,400
  21,696
  23,044
  24,449
  25,912
  27,437
  29,028
  30,688
  32,420
  34,230
  36,121
  38,097
Adjusted assets (=assets-cash), $m
  3,623
  4,166
  4,749
  5,372
  6,032
  6,729
  7,463
  8,233
  9,038
  9,879
  10,756
  11,669
  12,618
  13,605
  14,632
  15,698
  16,806
  17,958
  19,155
  20,400
  21,696
  23,044
  24,449
  25,912
  27,437
  29,028
  30,688
  32,420
  34,230
  36,121
  38,097
Revenue / Adjusted assets
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
  0.167
Average production assets, $m
  2,148
  2,470
  2,816
  3,185
  3,576
  3,989
  4,424
  4,881
  5,358
  5,857
  6,377
  6,918
  7,481
  8,066
  8,674
  9,306
  9,963
  10,646
  11,356
  12,094
  12,862
  13,662
  14,494
  15,362
  16,266
  17,209
  18,193
  19,220
  20,293
  21,414
  22,586
Working capital, $m
  -38
  -46
  -52
  -59
  -66
  -74
  -82
  -91
  -100
  -109
  -119
  -129
  -139
  -150
  -161
  -173
  -185
  -198
  -211
  -225
  -239
  -254
  -269
  -286
  -302
  -320
  -338
  -357
  -377
  -398
  -420
Total debt, $m
  1,556
  2,014
  2,538
  3,098
  3,693
  4,320
  4,981
  5,673
  6,398
  7,155
  7,944
  8,766
  9,620
  10,509
  11,432
  12,392
  13,389
  14,426
  15,503
  16,624
  17,790
  19,004
  20,268
  21,585
  22,957
  24,389
  25,883
  27,442
  29,071
  30,772
  32,551
Total liabilities, $m
  3,292
  3,750
  4,274
  4,834
  5,429
  6,056
  6,717
  7,409
  8,134
  8,891
  9,680
  10,502
  11,356
  12,245
  13,168
  14,128
  15,125
  16,162
  17,239
  18,360
  19,526
  20,740
  22,004
  23,321
  24,693
  26,125
  27,619
  29,178
  30,807
  32,508
  34,287
Total equity, $m
  333
  417
  475
  537
  603
  673
  746
  823
  904
  988
  1,076
  1,167
  1,262
  1,361
  1,463
  1,570
  1,681
  1,796
  1,915
  2,040
  2,170
  2,304
  2,445
  2,591
  2,744
  2,903
  3,069
  3,242
  3,423
  3,612
  3,810
Total liabilities and equity, $m
  3,625
  4,167
  4,749
  5,371
  6,032
  6,729
  7,463
  8,232
  9,038
  9,879
  10,756
  11,669
  12,618
  13,606
  14,631
  15,698
  16,806
  17,958
  19,154
  20,400
  21,696
  23,044
  24,449
  25,912
  27,437
  29,028
  30,688
  32,420
  34,230
  36,120
  38,097
Debt-to-equity ratio
  4.673
  4.830
  5.340
  5.770
  6.120
  6.420
  6.670
  6.890
  7.080
  7.240
  7.390
  7.510
  7.620
  7.720
  7.810
  7.890
  7.970
  8.030
  8.090
  8.150
  8.200
  8.250
  8.290
  8.330
  8.370
  8.400
  8.430
  8.460
  8.490
  8.520
  8.540
Adjusted equity ratio
  0.091
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  27
  196
  243
  293
  346
  401
  460
  522
  587
  655
  725
  824
  901
  981
  1,064
  1,150
  1,240
  1,333
  1,431
  1,532
  1,637
  1,747
  1,862
  1,982
  2,107
  2,237
  2,373
  2,516
  2,665
  2,820
  2,983
Depreciation, amort., depletion, $m
  92
  125
  138
  152
  166
  182
  198
  214
  232
  250
  270
  255
  276
  298
  320
  343
  368
  393
  419
  446
  475
  504
  535
  567
  600
  635
  671
  709
  749
  790
  833
Funds from operations, $m
  444
  321
  381
  445
  512
  583
  658
  737
  819
  905
  995
  1,079
  1,177
  1,278
  1,384
  1,493
  1,607
  1,726
  1,850
  1,978
  2,112
  2,252
  2,397
  2,549
  2,707
  2,872
  3,045
  3,225
  3,413
  3,610
  3,817
Change in working capital, $m
  41
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
Cash from operations, $m
  403
  327
  388
  451
  519
  591
  666
  745
  828
  914
  1,005
  1,089
  1,187
  1,289
  1,395
  1,505
  1,620
  1,739
  1,863
  1,992
  2,126
  2,266
  2,412
  2,565
  2,724
  2,890
  3,063
  3,244
  3,433
  3,631
  3,839
Maintenance CAPEX, $m
  0
  -79
  -91
  -104
  -118
  -132
  -147
  -163
  -180
  -198
  -216
  -235
  -255
  -276
  -298
  -320
  -343
  -368
  -393
  -419
  -446
  -475
  -504
  -535
  -567
  -600
  -635
  -671
  -709
  -749
  -790
New CAPEX, $m
  -71
  -322
  -346
  -369
  -391
  -413
  -435
  -456
  -477
  -499
  -520
  -541
  -563
  -585
  -608
  -632
  -657
  -683
  -710
  -738
  -768
  -799
  -833
  -867
  -904
  -943
  -984
  -1,027
  -1,073
  -1,121
  -1,172
Cash from investing activities, $m
  -582
  -401
  -437
  -473
  -509
  -545
  -582
  -619
  -657
  -697
  -736
  -776
  -818
  -861
  -906
  -952
  -1,000
  -1,051
  -1,103
  -1,157
  -1,214
  -1,274
  -1,337
  -1,402
  -1,471
  -1,543
  -1,619
  -1,698
  -1,782
  -1,870
  -1,962
Free cash flow, $m
  -179
  -74
  -49
  -21
  10
  45
  84
  125
  170
  218
  269
  313
  369
  428
  489
  553
  619
  688
  760
  835
  912
  992
  1,076
  1,162
  1,252
  1,346
  1,444
  1,545
  1,651
  1,762
  1,877
Issuance/(repayment) of debt, $m
  662
  458
  525
  560
  594
  628
  660
  693
  725
  757
  789
  822
  855
  889
  923
  960
  997
  1,037
  1,078
  1,121
  1,166
  1,214
  1,264
  1,317
  1,373
  1,432
  1,494
  1,559
  1,629
  1,702
  1,779
Issuance/(repurchase) of shares, $m
  133
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  223
  458
  525
  560
  594
  628
  660
  693
  725
  757
  789
  822
  855
  889
  923
  960
  997
  1,037
  1,078
  1,121
  1,166
  1,214
  1,264
  1,317
  1,373
  1,432
  1,494
  1,559
  1,629
  1,702
  1,779
Total cash flow (excl. dividends), $m
  44
  383
  476
  539
  604
  673
  744
  818
  895
  975
  1,058
  1,134
  1,224
  1,316
  1,412
  1,512
  1,617
  1,725
  1,838
  1,955
  2,078
  2,206
  2,340
  2,479
  2,625
  2,778
  2,938
  3,105
  3,280
  3,463
  3,655
Retained Cash Flow (-), $m
  89
  -86
  -58
  -62
  -66
  -70
  -73
  -77
  -81
  -84
  -88
  -91
  -95
  -99
  -103
  -107
  -111
  -115
  -120
  -125
  -130
  -135
  -140
  -146
  -153
  -159
  -166
  -173
  -181
  -189
  -198
Prev. year cash balance distribution, $m
 
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  300
  417
  476
  538
  603
  671
  741
  815
  891
  970
  1,043
  1,129
  1,217
  1,310
  1,406
  1,506
  1,610
  1,718
  1,831
  1,948
  2,071
  2,199
  2,333
  2,473
  2,619
  2,772
  2,932
  3,099
  3,274
  3,458
Discount rate, %
 
  10.80
  11.34
  11.91
  12.50
  13.13
  13.78
  14.47
  15.20
  15.96
  16.75
  17.59
  18.47
  19.40
  20.37
  21.38
  22.45
  23.58
  24.75
  25.99
  27.29
  28.66
  30.09
  31.59
  33.17
  34.83
  36.57
  38.40
  40.32
  42.34
  44.45
PV of cash for distribution, $m
 
  270
  337
  340
  336
  326
  309
  288
  263
  235
  206
  175
  148
  122
  98
  77
  59
  44
  32
  23
  16
  10
  7
  4
  3
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tallgrass Energy GP, LP is a limited partnership company, which includes the operations of Tallgrass Equity, LLC (Tallgrass Equity), Tallgrass MLP GP, LLC, Tallgrass Energy Partners, LP (TEP), and TEP's subsidiaries. TEP owns, operates, acquires and develops midstream energy assets in North America. TEP's segments include Crude Oil Transportation & Logistics, which is engaged in the ownership and operation of a crude oil pipeline system, and crude oil storage and terminaling facilities; Natural Gas Transportation & Logistics, which is engaged in the ownership and operation of interstate natural gas pipelines and integrated natural gas storage facilities; Processing & Logistics, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, and the provision of water business services to the oil and gas exploration and production industry, and Corporate and Other.

FINANCIAL RATIOS  of  Tallgrass Energy GP Cl A (TEGP)

Valuation Ratios
P/E Ratio 147.6
Price to Sales 6.6
Price to Book 12
Price to Tangible Book
Price to Cash Flow 9.9
Price to Free Cash Flow 12
Growth Rates
Sales Growth Rate 12.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 9.2%
Cap. Spend. - 3 Yr. Gr. Rate -27.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 467.3%
Total Debt to Equity 467.3%
Interest Coverage 9
Management Effectiveness
Return On Assets 1.8%
Ret/ On Assets - 3 Yr. Avg. 1.5%
Return On Total Capital 1.7%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity 7.2%
Return On Equity - 3 Yr. Avg. 6.8%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 74.4%
Gross Margin - 3 Yr. Avg. 64.3%
EBITDA Margin 64%
EBITDA Margin - 3 Yr. Avg. 49.4%
Operating Margin 42%
Oper. Margin - 3 Yr. Avg. 31.8%
Pre-Tax Margin 43.1%
Pre-Tax Margin - 3 Yr. Avg. 30.9%
Net Profit Margin 4.5%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 6.9%
Eff/ Tax Rate - 3 Yr. Avg. 1%
Payout Ratio 163%

TEGP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TEGP stock intrinsic value calculation we used $605 million for the last fiscal year's total revenue generated by Tallgrass Energy GP Cl A. The default revenue input number comes from 2016 income statement of Tallgrass Energy GP Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TEGP stock valuation model: a) initial revenue growth rate of 15% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.8%, whose default value for TEGP is calculated based on our internal credit rating of Tallgrass Energy GP Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tallgrass Energy GP Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TEGP stock the variable cost ratio is equal to 15.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $261 million in the base year in the intrinsic value calculation for TEGP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Tallgrass Energy GP Cl A.

Corporate tax rate of 27% is the nominal tax rate for Tallgrass Energy GP Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TEGP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TEGP are equal to 355%.

Life of production assets of 27.1 years is the average useful life of capital assets used in Tallgrass Energy GP Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TEGP is equal to -6.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $333 million for Tallgrass Energy GP Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 156.954 million for Tallgrass Energy GP Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tallgrass Energy GP Cl A at the current share price and the inputted number of shares is $4.0 billion.

RELATED COMPANIES Price Int.Val. Rating
PAA Plains All Ame 22.49 3.80  str.sell
SEMG Semgroup Cl A 29.55 4.52  str.sell
MMP Magellan Midst 73.75 19.92  str.sell
PAGP Plains GP Hold 22.78 33.16  str.buy
EEP Enbridge Energ 14.83 3.04  str.sell
BKEP Blueknight Ene 5.42 0.14  str.sell
SHLX Shell Midstrea 30.13 13.19  str.sell
HEP Holly Energy P 31.79 24.68  sell

COMPANY NEWS

▶ MLP Rating Updates for Week Ended January 5   [02:20PM  Market Realist]
▶ Top MLP Losers in Week Ended January 5   [12:50PM  Market Realist]
▶ Tallgrass Energy CFO to Present at EMG Investor Conference   [Dec-04-17 05:00PM  Business Wire]
▶ Weekly CEO Buys Highlight   [11:32AM  GuruFocus.com]
▶ Tallgrass Energy Announces Pony Express Open Seasons   [Nov-13-17 05:27PM  Business Wire]
▶ ETFs with exposure to Telecom Egypt : November 7, 2017   [Nov-07-17 10:47AM  Capital Cube]
▶ .   [Nov-03-17 06:01PM  Reuters]
▶ Tallgrass Energy GP misses 3Q profit forecasts   [Nov-02-17 06:21PM  Associated Press]
▶ TEP Ranks 3rd in Terms of 3-Year Total Returns among MLPs   [Oct-18-17 09:13AM  Market Realist]
▶ Why TEGP Should Not Have Strong Correlation With Crude Oil   [Oct-12-17 09:11AM  Market Realist]
▶ Top MLP Losers in the Week Ending September 22   [Sep-26-17 10:22AM  Market Realist]
▶ Oneok Sees IBD RS Rating Improve To 73   [Sep-15-17 03:00AM  Investor's Business Daily]
▶ These MLPs Increased Distribution in 3Q17   [Aug-11-17 04:19PM  Market Realist]
▶ Tallgrass Energy GP misses 2Q profit forecasts   [Aug-03-17 12:28AM  Associated Press]
▶ Tallgrass Energy Reports Strong Second Quarter 2017 Results   [Aug-02-17 04:05PM  Business Wire]
▶ Tallgrass Energy to Participate in MLPA Investor Conference   [May-30-17 11:00AM  Business Wire]
▶ ETFs with exposure to Telecom Egypt : May 23, 2017   [May-23-17 01:08PM  Capital Cube]
▶ Tallgrass Energy Wins Champions of Business Award   [May-12-17 02:26PM  Business Wire]
▶ Tallgrass Energy GP beats 1Q profit forecasts   [05:56PM  Associated Press]
▶ New Strong Buy Stocks for April 20th   [Apr-20-17 10:06AM  Zacks]
▶ Which MLPs Are Leading in Distribution Growth?   [Mar-10-17 05:07PM  Market Realist]
▶ KC executive joins energy business hall of fame   [Mar-08-17 02:45PM  at bizjournals.com]
Financial statements of TEGP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.