Ninety One UK Ltd Cuts Position in Targa Resources, Inc. (NYSE:TRGP)

Ninety One UK Ltd cut its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 72,169 shares of the pipeline company's stock after selling 22,513 shares during the period. Ninety One UK Ltd's holdings in Targa Resources were worth $14,468,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Snowden Capital Advisors LLC grew its stake in shares of Targa Resources by 2.0% in 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. Ritholtz Wealth Management boosted its position in shares of Targa Resources by 1.3% in the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock worth $991,000 after purchasing an additional 62 shares during the period. Curated Wealth Partners LLC lifted its holdings in shares of Targa Resources by 2.2% in the first quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock worth $670,000 after buying an additional 73 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Targa Resources by 0.8% in the fourth quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock worth $1,648,000 after buying an additional 74 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Targa Resources by 1.8% in the first quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company's stock worth $855,000 after buying an additional 74 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Targa Resources Trading Up 0.7%

Shares of TRGP stock traded up $1.15 on Friday, reaching $171.89. 801,427 shares of the company's stock were exchanged, compared to its average volume of 1,842,486. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. The stock has a market capitalization of $37.29 billion, a PE ratio of 31.66, a P/E/G ratio of 0.61 and a beta of 1.07. The company's fifty day simple moving average is $166.55 and its 200 day simple moving average is $182.02.

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 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 the consensus estimate of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. As a group, analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The company 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 dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Targa Resources's previous quarterly dividend of $0.12. This represents a $4.00 dividend on an annualized basis and a yield of 2.33%. Targa Resources's payout ratio is 73.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRGP. TD Cowen began coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a "hold" rating and a $192.00 price target on the stock. The Goldman Sachs Group decreased their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $205.00 price target (up previously from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Mizuho set a $212.00 price target on shares of Targa Resources and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Finally, Barclays upped their price target on shares of Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $209.57.

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.