Harvest Fund Management Co. Ltd Has $1.41 Million Stake in Targa Resources, Inc. (NYSE:TRGP)

Harvest Fund Management Co. Ltd raised its holdings in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 171.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,045 shares of the pipeline company's stock after purchasing an additional 4,453 shares during the period. Harvest Fund Management Co. Ltd's holdings in Targa Resources were worth $1,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Blair William & Co. IL grew its stake in shares of Targa Resources by 6.2% in the fourth quarter. Blair William & Co. IL now owns 19,416 shares of the pipeline company's stock worth $3,466,000 after purchasing an additional 1,126 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Targa Resources during the 4th quarter valued at about $73,000. Orion Portfolio Solutions LLC lifted its stake in shares of Targa Resources by 16.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,819 shares of the pipeline company's stock worth $1,931,000 after acquiring an additional 1,537 shares during the period. Level Four Advisory Services LLC bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $262,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Targa Resources by 6.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 28,954 shares of the pipeline company's stock valued at $5,168,000 after acquiring an additional 1,708 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Trading Down 2.0%

NYSE TRGP traded down $3.34 on Friday, hitting $163.07. 1,760,898 shares of the stock were exchanged, compared to its average volume of 1,234,745. The company has a market capitalization of $35.38 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.08 and a beta of 1.07. Targa Resources, Inc. has a 52-week low of $122.56 and a 52-week 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. The company's 50-day moving average price is $167.83 and its two-hundred day moving average price is $180.05.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. Research analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Thursday, July 31st. This is a positive change from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's payout ratio is currently 73.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TRGP shares. TD Securities assumed coverage on Targa Resources in a research report on Monday, July 7th. They issued a "hold" rating for the company. Scotiabank restated an "outperform" rating on shares of Targa Resources in a report on Tuesday, July 15th. Citigroup lowered their target price on Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a report on Friday, May 9th. UBS Group cut their price target 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. Finally, The Goldman Sachs Group dropped their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $209.86.

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.