Flossbach Von Storch SE Takes Position in Targa Resources, Inc. (NYSE:TRGP)

Flossbach Von Storch SE bought a new position in Targa Resources, Inc. (NYSE:TRGP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,550 shares of the pipeline company's stock, valued at approximately $311,000.

Several other hedge funds also recently bought and sold shares of TRGP. Ameriflex Group Inc. bought a new position in shares of Targa Resources during the 4th quarter valued at about $31,000. Colonial Trust Co SC boosted its holdings 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 during the last quarter. Atala Financial Inc bought a new position in shares of Targa Resources during the 4th quarter valued at about $31,000. Cary Street Partners Financial LLC bought a new position in shares of Targa Resources during the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Targa Resources during the 4th quarter valued at about $32,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Down 1.9%

Shares of NYSE:TRGP traded down $3.38 during trading on Wednesday, reaching $171.02. 1,202,116 shares of the company were exchanged, compared to its average volume of 1,838,443. The firm has a market capitalization of $37.10 billion, a PE ratio of 31.50, a P/E/G ratio of 0.61 and a beta of 1.07. The business's fifty day simple moving average is $166.17 and its 200-day simple moving average is $182.21. Targa Resources, Inc. has a 12-month low of $122.56 and a 12-month high of $218.51. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS 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 company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. On average, research analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on TRGP shares. UBS Group dropped their price objective on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Royal Bank Of Canada restated an "outperform" rating and set a $205.00 target price (up from $191.00) on shares of Targa Resources in a research report on Thursday, June 26th. US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Truist Financial upped their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Finally, Morgan Stanley upped their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $208.31.

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.