Siemens Fonds Invest GmbH Acquires 12,598 Shares of Targa Resources Corp. (NYSE:TRGP)

Siemens Fonds Invest GmbH boosted its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 547.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,899 shares of the pipeline company's stock after purchasing an additional 12,598 shares during the period. Siemens Fonds Invest GmbH's holdings in Targa Resources were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRGP. Snowden Capital Advisors LLC grew its position in shares of Targa Resources by 2.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after buying an additional 53 shares during the period. Fisher Asset Management LLC grew its position in shares of Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock worth $396,000 after buying an additional 67 shares during the period. Mather Group LLC. grew its position in shares of Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock worth $540,000 after buying an additional 68 shares during the period. Keybank National Association OH grew its position in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after buying an additional 70 shares during the period. Finally, Baker Avenue Asset Management LP grew its position in shares of Targa Resources by 0.8% during the 4th 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 during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Stock Down 0.5%

TRGP traded down $0.78 during trading on Friday, reaching $157.71. The company had a trading volume of 4,020,354 shares, compared to its average volume of 1,813,152. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 12 month low of $114.51 and a 12 month high of $218.51. The business's fifty day moving average price is $170.23 and its 200 day moving average price is $186.67. The company has a market cap of $34.21 billion, a P/E ratio of 27.48, a PEG ratio of 0.61 and a beta of 1.22.

Targa Resources (NYSE:TRGP - Get Free Report) last announced 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). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. Equities analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Royal Bank of Canada lowered their price target on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Morgan Stanley lifted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Truist Financial lifted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Finally, Barclays decreased their price objective on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a report 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, Targa Resources has an average rating of "Buy" and a consensus price target of $198.79.

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.