Targa Resources, Inc. $TRGP Shares Purchased by Tredje AP fonden

Tredje AP fonden increased its stake in Targa Resources, Inc. (NYSE:TRGP) by 43.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,735 shares of the pipeline company’s stock after buying an additional 7,170 shares during the quarter. Tredje AP fonden’s holdings in Targa Resources were worth $4,132,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of Targa Resources by 578.9% in the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after buying an additional 110 shares in the last quarter. Disciplina Capital Management LLC acquired a new stake in Targa Resources in the first quarter valued at approximately $46,000. Olde Wealth Management LLC acquired a new stake in Targa Resources in the first quarter valued at approximately $52,000. Hilltop National Bank acquired a new stake in Targa Resources in the second quarter valued at approximately $63,000. Finally, Raleigh Capital Management Inc. grew its holdings in Targa Resources by 1,173.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 433 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Mizuho lowered their target price on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Royal Bank Of Canada raised their target price on Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Targa Resources Price Performance

Shares of TRGP stock opened at $154.21 on Monday. The firm has a market cap of $33.19 billion, a P/E ratio of 21.81, a P/E/G ratio of 0.91 and a beta of 1.12. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $218.51. The firm has a fifty day moving average of $161.37 and a two-hundred day moving average of $164.96. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.92. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. As a group, research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $1.00 dividend. The ex-dividend date is Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Targa Resources’s dividend payout ratio (DPR) is presently 56.58%.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.