ASR Vermogensbeheer N.V. Has $16.76 Million Stock Holdings in Targa Resources, Inc. $TRGP

Key Points

• ASR Vermogensbeheer N.V. has increased its holdings in Targa Resources, owning 96,303 shares valued at approximately $16.76 million, marking a significant 13.9% increase in the second quarter.
• Several institutional investors have also ramped up their investments, with Cornerstone Planning Group LLC boosting their position by 578.9% during the first quarter.
• Targa Resources recently raised its quarterly dividend to $1.00 per share, resulting in an annualized yield of 2.4%, significantly up from the previous quarterly dividend.

ASR Vermogensbeheer N.V. increased its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,303 shares of the pipeline company's stock after acquiring an additional 11,752 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Targa Resources were worth $16,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in shares of 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. Disciplina Capital Management LLC acquired a new stake in shares of Targa Resources during the 1st quarter worth approximately $46,000. Olde Wealth Management LLC acquired a new stake in shares of Targa Resources during the 1st quarter worth approximately $52,000. ST Germain D J Co. Inc. acquired a new stake in shares of Targa Resources during the 1st quarter worth approximately $60,000. Finally, Wolff Wiese Magana LLC boosted its position in Targa Resources by 376.2% in the first quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company's stock valued at $60,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

TRGP has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Targa Resources from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. TD Securities initiated coverage on shares of Targa Resources in a research report on Monday, July 7th. They issued a "hold" rating on the stock. Royal Bank Of Canada raised their target price on shares of Targa Resources from $205.00 to $208.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Barclays raised their target price on shares of Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Mizuho cut their target price on shares of Targa Resources from $212.00 to $207.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources currently has an average rating of "Moderate Buy" and a consensus price target of $207.27.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $168.10 on Thursday. The firm has a market cap of $36.17 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.12. The firm's fifty day moving average is $165.61 and its 200-day moving average is $169.78. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. Targa Resources, Inc. has a 52 week low of $150.00 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last issued 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 company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. Sell-side analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Targa Resources's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, July 31st. Targa Resources's dividend payout ratio (DPR) is presently 56.58%.

Targa Resources 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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