Mirae Asset Global Investments Co. Ltd. boosted its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,775 shares of the pipeline company's stock after buying an additional 4,255 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Targa Resources were worth $9,055,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Targa Resources in the 4th quarter worth approximately $505,132,000. GQG Partners LLC acquired a new position in Targa Resources during the 4th quarter worth $393,335,000. Canada Pension Plan Investment Board boosted its position in 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 acquiring an additional 1,038,350 shares during the period. GAMMA Investing LLC grew its stake in shares of Targa Resources by 22,699.0% in the first quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock worth $186,112,000 after purchasing an additional 924,305 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Targa Resources during the fourth quarter valued at $150,372,000. 92.13% of the stock is owned by institutional investors and hedge funds.
Targa Resources Stock Down 0.1%
Shares of TRGP traded down $0.26 during trading hours on Friday, reaching $173.52. The company's stock had a trading volume of 760,692 shares, compared to its average volume of 1,835,929. The company has a 50 day moving average of $166.46 and a two-hundred day moving average of $182.21. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. The firm has a market cap of $37.64 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 0.62 and a beta of 1.07. Targa Resources, Inc. has a 1-year low of $122.56 and a 1-year high of $218.51.
Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. As a group, research analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.
Targa Resources Dividend Announcement
The business also recently disclosed a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources's dividend payout ratio is 73.66%.
Analyst Ratings Changes
A number of research firms have recently commented on TRGP. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Mizuho set a $212.00 target price on Targa Resources and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Barclays dropped their price target on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Citigroup reduced their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Morgan Stanley lifted their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Twelve investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $209.67.
Check Out Our Latest Analysis on TRGP
Targa Resources Company Profile
(
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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