Flossbach Von Storch SE purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,550 shares of the pipeline company's stock, valued at approximately $311,000.
A number of other institutional investors also recently bought and sold shares of TRGP. Norges Bank acquired a new stake in shares of Targa Resources during the 4th quarter worth approximately $505,132,000. GQG Partners LLC acquired a new stake in shares of Targa Resources during the 4th quarter worth approximately $393,335,000. Canada Pension Plan Investment Board grew its stake in shares of Targa Resources by 981.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after purchasing an additional 1,038,350 shares during the period. GAMMA Investing LLC grew its stake in Targa Resources by 22,699.0% in the 1st quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock valued at $186,112,000 after acquiring an additional 924,305 shares during the period. Finally, TD Asset Management Inc. grew its stake in Targa Resources by 568.7% in the 4th quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after acquiring an additional 825,267 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.
Targa Resources Stock Performance
Shares of NYSE TRGP traded down $1.91 during midday trading on Thursday, reaching $168.78. 355,539 shares of the company traded hands, compared to its average volume of 1,835,371. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51. The stock has a 50-day moving average price of $166.18 and a 200 day moving average price of $182.14. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 0.62 and a beta of 1.07.
Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly 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 30.48% and a net margin of 7.35%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. Sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.
Targa Resources Dividend Announcement
The firm also recently declared 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 was Wednesday, April 30th. Targa Resources's dividend payout ratio (DPR) is presently 73.66%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on TRGP shares. Truist Financial lifted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Citigroup decreased their price target on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Barclays decreased their price target on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Royal Bank Of Canada restated an "outperform" rating and set a $205.00 price objective (up previously from $191.00) on shares of Targa Resources in a research report on Thursday, June 26th. Finally, TD Securities initiated coverage on shares of Targa Resources in a research report on Monday. They set a "hold" rating for the company. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus target price of $208.31.
View Our Latest Research Report on TRGP
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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