DekaBank Deutsche Girozentrale Has $12.43 Million Stock Holdings in Targa Resources, Inc. $TRGP

DekaBank Deutsche Girozentrale increased its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,038 shares of the pipeline company's stock after purchasing an additional 8,294 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Targa Resources were worth $12,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRGP. GQG Partners LLC increased its position in Targa Resources by 64.0% during the 1st quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company's stock worth $724,560,000 after purchasing an additional 1,410,747 shares in the last quarter. Nuveen LLC acquired a new position in Targa Resources during the 1st quarter worth approximately $196,351,000. Wellington Management Group LLP increased its position in Targa Resources by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company's stock worth $2,764,673,000 after purchasing an additional 962,631 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Targa Resources by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company's stock worth $551,033,000 after purchasing an additional 834,666 shares in the last quarter. Finally, Amundi increased its position in Targa Resources by 33.8% during the 1st quarter. Amundi now owns 2,463,271 shares of the pipeline company's stock worth $493,812,000 after purchasing an additional 622,096 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Trading Up 1.5%

NYSE:TRGP opened at $156.82 on Friday. The firm's fifty day moving average is $162.49 and its 200-day moving average is $165.56. 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 $144.14 and a 52 week high of $218.51. The firm has a market cap of $33.75 billion, a P/E ratio of 22.18, a P/E/G ratio of 0.99 and a beta of 1.12.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Equities analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources's dividend payout ratio is currently 56.58%.

Wall Street Analyst Weigh In

TRGP has been the subject of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of Targa Resources in a research report on Friday, September 19th. They set an "outperform" rating and a $185.00 price objective for the company. Scotiabank restated an "outperform" rating on shares of Targa Resources in a research report on Thursday, August 14th. Weiss Ratings restated a "buy (b-)" rating on shares of Targa Resources in a research report on Wednesday, October 8th. Wells Fargo & Company restated an "overweight" rating and issued a $205.00 price target (up from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Targa Resources has an average rating of "Moderate Buy" and an average target price of $209.50.

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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