Lbp Am Sa Has $562,000 Holdings in Targa Resources, Inc. $TRGP

Key Points

• Lbp Am Sa significantly reduced its stake in Targa Resources, Inc. by 90.9%, now holding 3,227 shares valued at $562,000.
• Analysts have mixed views on Targa Resources, with a consensus rating of "Moderate Buy" and a price target averaging $207.27. Recent upgrades include JPMorgan raising its price target to $209.00.
• Targa Resources recently declared a quarterly dividend of $1.00 per share, reflecting a yield of 2.5%, a significant increase from the previous dividend of $0.12.

Lbp Am Sa decreased its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 90.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,227 shares of the pipeline company's stock after selling 32,058 shares during the period. Lbp Am Sa's holdings in Targa Resources were worth $562,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Truist Financial Corp increased its holdings in Targa Resources by 0.4% during the 2nd quarter. Truist Financial Corp now owns 877,796 shares of the pipeline company's stock worth $152,807,000 after purchasing an additional 3,258 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Targa Resources by 45.7% during the second quarter. Capital Investment Advisors LLC now owns 20,176 shares of the pipeline company's stock worth $3,512,000 after buying an additional 6,324 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of Targa Resources by 61.0% during the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company's stock worth $84,000 after buying an additional 183 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in Targa Resources in the 2nd quarter valued at approximately $254,000. Finally, V Square Quantitative Management LLC raised its position in Targa Resources by 8.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 4,099 shares of the pipeline company's stock valued at $714,000 after buying an additional 317 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TRGP shares. BMO Capital Markets started coverage on shares of Targa Resources in a research note on Friday, September 19th. They set an "outperform" rating and a $185.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of Targa Resources from $189.00 to $209.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. TD Securities began coverage on shares of Targa Resources in a research note on Monday, July 7th. They issued a "hold" rating on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Targa Resources in a research report on Saturday, September 27th. Finally, Mizuho decreased their price objective on Targa Resources from $212.00 to $207.00 and set an "outperform" rating for the company in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Targa Resources has an average rating of "Moderate Buy" and a consensus price target of $207.27.

Targa Resources Trading Down 0.2%

Shares of NYSE:TRGP opened at $162.35 on Friday. Targa Resources, Inc. has a 52-week low of $150.00 and a 52-week high of $218.51. The company has a market capitalization of $34.94 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 0.96 and a beta of 1.12. The company has a 50-day simple moving average of $165.49 and a 200 day simple moving average of $169.33. 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 (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.92. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.00 annualized dividend and a yield of 2.5%. This is a positive change from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's payout ratio is 56.58%.

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.

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