1,989 Shares in Targa Resources, Inc. (NYSE:TRGP) Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI purchased a new position in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,989 shares of the pipeline company's stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in Targa Resources by 578.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC increased its holdings in Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Targa Resources during the 4th quarter worth approximately $31,000. Ameriflex Group Inc. purchased a new stake in Targa Resources during the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Targa Resources during the 4th quarter worth approximately $32,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $171.24 on Friday. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market cap of $37.15 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.09 and a beta of 1.07. The business's 50-day simple moving average is $167.58 and its 200-day simple moving average is $181.71. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. As a group, equities research analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.34%. This is a boost from Targa Resources's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, July 31st. Targa Resources's dividend payout ratio (DPR) is currently 73.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TRGP shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $205.00 price target on shares of Targa Resources in a report on Tuesday. UBS Group lowered their price objective on Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. The Goldman Sachs Group lowered their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Citigroup reduced their price target on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, TD Securities began coverage on Targa Resources in a report on Monday, July 7th. They issued a "hold" rating for the company. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $209.86.

Targa Resources Company Profile

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.

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