Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Targa Resources Corp. (NYSE:TRGP)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 166,767 shares of the pipeline company's stock, valued at approximately $29,768,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Targa Resources at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Employees Retirement System of Texas purchased a new position in Targa Resources in the 4th quarter worth $2,038,000. Ameriflex Group Inc. purchased a new stake in Targa Resources during the fourth quarter valued at about $31,000. Mackenzie Financial Corp grew its stake in shares of Targa Resources by 32.2% during the fourth quarter. Mackenzie Financial Corp now owns 156,371 shares of the pipeline company's stock valued at $27,912,000 after buying an additional 38,105 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Targa Resources by 383.0% in the fourth quarter. Toronto Dominion Bank now owns 376,353 shares of the pipeline company's stock worth $67,179,000 after buying an additional 298,429 shares during the period. Finally, Vise Technologies Inc. increased its holdings in shares of Targa Resources by 121.6% in the fourth quarter. Vise Technologies Inc. now owns 5,572 shares of the pipeline company's stock worth $995,000 after buying an additional 3,058 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRGP. Morgan Stanley increased their target price on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Mizuho set a $212.00 price objective on Targa Resources and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Truist Financial raised their target price on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Barclays decreased their target price on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 20th. Finally, UBS Group lowered their price target on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $198.79.

Targa Resources Trading Down 0.5%

TRGP stock traded down $0.78 on Friday, reaching $157.71. The company's stock had a trading volume of 4,020,354 shares, compared to its average volume of 1,813,152. The firm has a market cap of $34.21 billion, a PE ratio of 27.48, a PEG ratio of 0.61 and a beta of 1.22. The business has a fifty day simple moving average of $170.23 and a two-hundred day simple moving average of $186.67. Targa Resources Corp. has a 12-month low of $114.51 and a 12-month high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. As a group, research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, April 30th. Targa Resources's payout ratio is 73.66%.

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.