Czech National Bank Has $10.04 Million Stock Position in Targa Resources Corp. (NYSE:TRGP)

Czech National Bank grew its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,085 shares of the pipeline company's stock after acquiring an additional 2,804 shares during the period. Czech National Bank's holdings in Targa Resources were worth $10,041,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TRGP. Perigon Wealth Management LLC acquired a new position in Targa Resources during the fourth quarter worth $195,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Targa Resources during the 4th quarter valued at about $608,000. Tritonpoint Wealth LLC raised its stake in shares of Targa Resources by 8.0% in the 4th quarter. Tritonpoint Wealth LLC now owns 1,548 shares of the pipeline company's stock valued at $276,000 after acquiring an additional 115 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Targa Resources in the 4th quarter worth approximately $221,000. Finally, Greenleaf Trust boosted its position in Targa Resources by 2.2% during the fourth quarter. Greenleaf Trust now owns 6,306 shares of the pipeline company's stock worth $1,126,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Barclays cut their price target on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a report on Tuesday, May 20th. Truist Financial increased their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lifted their target price on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average target price of $199.07.

Targa Resources Price Performance

Shares of NYSE:TRGP traded up $3.21 on Thursday, hitting $163.89. The stock had a trading volume of 1,885,465 shares, compared to its average volume of 1,818,761. The company has a market capitalization of $35.55 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm's 50 day moving average price is $168.02 and its 200-day moving average price is $186.03. Targa Resources Corp. has a twelve month low of $115.82 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. On average, equities research analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

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

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.