CHICAGO TRUST Co NA raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 50.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,949 shares of the pipeline company's stock after acquiring an additional 1,659 shares during the quarter. CHICAGO TRUST Co NA's holdings in Targa Resources were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC grew its position in shares of Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Atala Financial Inc purchased a new position in shares of Targa Resources during the 4th quarter valued at $31,000. Cary Street Partners Financial LLC purchased a new position in shares of Targa Resources during the 4th quarter valued at $31,000. Ameriflex Group Inc. purchased a new position in shares of Targa Resources during the 4th quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Targa Resources during the 4th quarter valued at $32,000. Institutional investors own 92.13% of the company's stock.
Targa Resources Stock Performance
NYSE TRGP opened at $167.14 on Monday. The company has a 50-day simple moving average of $166.57 and a two-hundred day simple moving average of $185.26. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12-month low of $117.88 and a 12-month high of $218.51. The firm has a market cap of $36.26 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 0.61 and a beta of 1.07.
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 (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. On average, equities analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.
Targa Resources Announces Dividend
The firm also recently declared a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's payout ratio is 73.66%.
Analyst Ratings Changes
TRGP has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Scotiabank upped their target price on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research report on Thursday. Royal Bank of Canada cut their target price on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. UBS Group cut their target price on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Finally, Citigroup cut their target price on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $199.07.
Read Our Latest Stock Report on Targa Resources
About Targa Resources
(
Free Report)
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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