Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. lifted its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 216.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,140 shares of the pipeline company's stock after buying an additional 7,624 shares during the period. Great Lakes Retirement Inc.'s holdings in Targa Resources were worth $2,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. Americana Partners LLC boosted its position in Targa Resources by 554.6% during the 4th quarter. Americana Partners LLC now owns 73,136 shares of the pipeline company's stock worth $13,055,000 after purchasing an additional 61,964 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Targa Resources by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company's stock valued at $14,152,000 after purchasing an additional 2,087 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $88,000. Commonwealth Equity Services LLC grew its position in Targa Resources by 30.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock worth $5,002,000 after buying an additional 6,589 shares during the last quarter. Finally, West Michigan Advisors LLC acquired a new stake in Targa Resources during the 4th quarter valued at $579,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays decreased 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 report on Tuesday, May 20th. UBS Group decreased their target price on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Scotiabank boosted their target price on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research report on Thursday, June 5th. Royal Bank of Canada decreased their price objective on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Wells Fargo & Company upped their price objective 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. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Targa Resources presently has a consensus rating of "Buy" and a consensus price target of $199.07.

Targa Resources Price Performance

NYSE:TRGP opened at $174.80 on Monday. The stock has a market cap of $37.92 billion, a P/E ratio of 30.45, a PEG ratio of 0.61 and a beta of 1.07. Targa Resources Corp. has a one year low of $119.00 and a one year high of $218.51. The company has a fifty day moving average price of $165.95 and a 200 day moving average price of $184.05. 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 (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) 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 business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Analysts anticipate that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $1.00 dividend. 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%.

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.

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