Tallgrass Energy GP reports 4Q loss

Associated Press |

LEAWOOD, Kan. (AP) _ Tallgrass Energy GP LP (TEGP) on Tuesday reported a fourth-quarter loss of $165.4 million, after reporting a profit in the same period a year earlier.

The Leawood, Kansas-based company said it had a loss of $2.85 per share. Earnings, adjusted for pretax expenses, were 13 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The limited partnership posted revenue of $174.8 million in the period.

For the year, the company reported a loss of $128.7 million, or $2.22 per share, swinging to a loss in the period. Revenue was reported as $655.9 million.

Tallgrass Energy GP shares have declined 14 percent since the beginning of the year. The stock has fallen 16 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TEGP at https://www.zacks.com/ap/TEGP

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Global Cannabis

Global Cannabis Applications Corp is engaged in the design, acquire data and develop applications for smartphones and tablets. The company offer Citizen Green platform, an end to end infrastructure to…