Achmea Investment Management B.V. Increases Stake in Targa Resources, Inc. (NYSE:TRGP)

Achmea Investment Management B.V. increased its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 36.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,890 shares of the pipeline company's stock after purchasing an additional 30,996 shares during the period. Achmea Investment Management B.V. owned 0.05% of Targa Resources worth $23,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TRGP. Norges Bank acquired a new position in shares of Targa Resources in the 4th quarter valued at $505,132,000. GQG Partners LLC acquired a new position in shares of Targa Resources in the fourth quarter valued at about $393,335,000. Canada Pension Plan Investment Board raised its stake in shares of Targa Resources by 981.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after purchasing an additional 1,038,350 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Targa Resources by 22,699.0% during the first quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock worth $186,112,000 after purchasing an additional 924,305 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Targa Resources during the fourth quarter worth about $150,372,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Trading Up 3.1%

Shares of Targa Resources stock opened at $175.84 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51. The firm has a market capitalization of $38.14 billion, a PE ratio of 32.38, a P/E/G ratio of 0.60 and a beta of 1.07. The firm's 50-day moving average price is $166.29 and its 200 day moving average price is $182.61.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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 return on equity of 30.48% and a net margin of 7.35%. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. On average, sell-side analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

TRGP has been the topic of several research reports. Mizuho set a $212.00 price target on shares of Targa Resources and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Scotiabank raised their target price on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a report on Thursday, June 5th. Barclays lowered their price target on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a report on Tuesday, May 20th. The Goldman Sachs Group decreased their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Morgan Stanley raised their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $204.69.

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.

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