Mackenzie Financial Corp Has $27.91 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Mackenzie Financial Corp lifted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 32.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,371 shares of the pipeline company's stock after purchasing an additional 38,105 shares during the period. Mackenzie Financial Corp owned about 0.07% of Targa Resources worth $27,912,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TRGP. Barclays PLC grew its stake in shares of Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock worth $153,124,000 after purchasing an additional 168,602 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Targa Resources in the 4th quarter worth approximately $216,000. Atomi Financial Group Inc. acquired a new position in shares of Targa Resources in the 4th quarter worth approximately $271,000. Janney Montgomery Scott LLC grew its stake in shares of Targa Resources by 7.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 48,289 shares of the pipeline company's stock worth $8,620,000 after purchasing an additional 3,327 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new position in shares of Targa Resources in the fourth quarter worth approximately $269,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRGP. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wells Fargo & Company raised their price target on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. 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 report on Friday, May 9th. Morgan Stanley raised their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Finally, Royal Bank of Canada reduced their target price on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average target price of $198.79.

Targa Resources Stock Down 0.7%

NYSE TRGP traded down $1.06 during trading hours on Thursday, reaching $158.28. 1,663,633 shares of the company's stock were exchanged, compared to its average volume of 1,799,577. The company's 50-day moving average is $172.11 and its two-hundred day moving average is $187.17. Targa Resources Corp. has a one year low of $114.36 and a one year high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market capitalization of $34.34 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its 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 28.67% and a net margin of 7.81%. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. On average, analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

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

Targa Resources Company 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.