4,565 Shares in Targa Resources, Inc. (NYSE:TRGP) Purchased by Friedenthal Financial

Friedenthal Financial acquired a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,565 shares of the pipeline company's stock, valued at approximately $915,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Snowden Capital Advisors LLC boosted its stake in Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after buying an additional 53 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Targa Resources by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock valued at $991,000 after purchasing an additional 62 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after purchasing an additional 67 shares in the last quarter. Keybank National Association OH lifted its stake in shares of Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after purchasing an additional 70 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its stake in shares of Targa Resources by 2.2% in the 1st quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock valued at $670,000 after purchasing an additional 73 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRGP shares. The Goldman Sachs Group reduced their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Mizuho set a $212.00 price target on Targa Resources and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Morgan Stanley boosted their price target on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Truist Financial boosted their price target on Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Finally, Citigroup reduced their price target on Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Targa Resources currently has an average rating of "Buy" and an average price target of $199.07.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $169.35 on Thursday. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The business has a 50 day simple moving average of $166.01 and a 200-day simple moving average of $183.62.

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

Targa Resources Dividend Announcement

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

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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