In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tallgrass Energy Gp Lp (NYSE:TEGP) reported that Salient Capital Advisors, Llc. has picked up 8,007,559 of common stock as of 2017-01-27.
The acquisition brings the aggregate amount owned by Salient Capital Advisors, Llc. to a total of 8,007,559 representing a 5.09% stake in the company.
For those not familiar with the company, Tallgrass Energy GP, LP is a limited partnership company. The Company, through Tallgrass Energy Partners, LP (TEP), provides crude oil transportation to customers in Wyoming, Colorado, and the surrounding regions through Pony Express. Its business segments include Crude Oil Transportation & Logistics Segment, which is engaged in the ownership and operation of a crude oil pipeline system; Natural Gas Transportation & Logistics Segment, which is engaged in ownership and operation of FERC-regulated interstate natural gas pipelines and integrated natural gas storage facilities, and Processing & Logistics Segment, which is engaged in the ownership and operation of natural gas processing, treating and fractionation facilities, the provision of water business services primarily to the oil and gas exploration and production industry and the transportation of natural gas liquids (NGL). The Company, through TEP, owns and operates natural gas processing plants in Casper and Douglas.
A glance at Tallgrass Energy Gp Lp (NYSE:TEGP)’s key stats reveals a current market capitalization of 4.47 billion based on 157.23 million shares outstanding and a price at last close of $27.69 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-12-11, Brauchle picked up 6,450 at a purchase price of $16.13. This brings their total holding to 9,205 as of the date of the filing.
On the sell side, the most recent transaction saw Raymond unload 5,175,000 shares at a sale price of $22.00. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tallgrass Energy Gp Lp (NYSE:TEGP) as things move forward to see if its progress aligns with these transactions.
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