NBC Securities Inc. Grows Holdings in Targa Resources Corp. (NYSE:TRGP)

NBC Securities Inc. raised its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 123,400.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,470 shares of the pipeline company's stock after purchasing an additional 2,468 shares during the quarter. NBC Securities Inc.'s holdings in Targa Resources were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRGP. Snowden Capital Advisors LLC increased its position in shares of Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after acquiring an additional 53 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after purchasing an additional 67 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after purchasing an additional 68 shares in the last quarter. Keybank National Association OH boosted its stake in shares of Targa Resources by 0.4% during the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock valued at $3,470,000 after purchasing an additional 70 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Targa Resources by 0.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock valued at $1,648,000 after purchasing an additional 74 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

Shares of Targa Resources stock traded up $3.01 during trading on Friday, hitting $167.14. 1,921,451 shares of the company's stock were exchanged, compared to its average volume of 1,823,642. 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 business has a 50-day simple moving average of $166.57 and a 200-day simple moving average of $185.54. Targa Resources Corp. has a 52-week low of $116.73 and a 52-week high of $218.51. The stock has a market capitalization of $36.26 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 0.61 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (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 analysts' expectations of $5.01 billion. On average, research analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRGP. Citigroup dropped their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Scotiabank raised their target price on shares of Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Barclays lowered their target price 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. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $199.07.

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.