Tallgrass Energy Announces Fourth Quarter & Full Year 2018 Results and 2019 Guidance
Fourth Quarter 2018 Net Income, Adjusted EBITDA and Cash Available for Dividends of $124.9 million, $241.1 million, and $198.7 million
Fourth Quarter 2018 Cash Available for Dividends of $0.7100 per share, Declared Dividend of $0.5200 per share, resulting in dividend coverage of 1.36x
2018 Pro Forma Net Income, Pro Forma Adjusted EBITDA, Pro Forma Cash Available for Dividends and dividend coverage of $455.9 million, $860.4 million, $711.5 million and 1.26x
Pony Express average daily long-haul throughput volumes of approximately 366,000 bbls/d during the fourth quarter of 2018 and approximately 336,000 bbls/d for the year
LEAWOOD, Kan.--(BUSINESS WIRE)--Jan. 31, 2019--Tallgrass Energy, LP (NYSE: TGE) ("TGE") today reported financial and operating results for the fourth quarter and full year 2018.
"Tallgrass Energy delivered an outstanding year in 2018 and is poised for another record-breaking year in 2019," said President and CEO David G. Dehaemers Jr. "Some of the most notable accomplishments in 2018 include the merger of TEGP and TEP that aligned the interests of all of our stakeholders; exceeding the high end of our financial guidance; growing the company through organic projects and accretive acquisitions; and obtaining an investment grade credit rating. In addition, we have a number of transformative projects under development that we believe will further position Tallgrass as one of the leading midstream energy infrastructure companies in America."
Fourth Quarter Dividend
As previously announced, the board of directors of TGE's general partner declared a quarterly cash dividend of $0.5200 per Class A share for the fourth quarter of 2018. This quarterly dividend represents $2.08 per Class A share on an annualized basis, a sequential increase of 2.0 percent from the third quarter 2018 dividend and an increase of 41.5 percent from the fourth quarter 2017 dividend. The quarterly dividend will be paid on Thursday, Feb. 14, 2019, to Class A shareholders of record as of the close of business on Thursday, Jan. 31, 2019.
The following information was filed by Tallgrass Energy, Lp (TGE) on Thursday, January 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0001633651-19-000009 Submitted to the SEC: Fri Feb 08 2019 4:08:36 PM EST Accepted by the SEC: Fri Feb 08 2019 Period: Monday, December 31, 2018 Industry: Natural Gas Transmission