Asset Management One Co. Ltd. Acquires 3,188 Shares of Targa Resources, Inc. (NYSE:TRGP)

Asset Management One Co. Ltd. increased its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,982 shares of the pipeline company's stock after purchasing an additional 3,188 shares during the period. Asset Management One Co. Ltd.'s holdings in Targa Resources were worth $16,635,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TRGP. Colonial Trust Co SC boosted its holdings in Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Atala Financial Inc bought a new position in shares of Targa Resources during the 4th quarter worth approximately $31,000. Cary Street Partners Financial LLC acquired a new stake in Targa Resources in the 4th quarter valued at $31,000. Ameriflex Group Inc. bought a new stake in Targa Resources in the fourth quarter valued at $31,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Targa Resources during the fourth quarter worth $32,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Scotiabank boosted 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, June 5th. Morgan Stanley boosted their price target on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Truist Financial raised their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. UBS Group reduced their target price on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Finally, Barclays decreased their price target on Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and an average price target of $204.69.

Targa Resources Trading Down 0.2%

Targa Resources stock traded down $0.42 during trading hours on Friday, reaching $175.42. 321,916 shares of the company's stock traded hands, compared to its average volume of 1,832,182. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 0.60 and a beta of 1.07. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. Targa Resources, Inc. has a fifty-two week low of $122.56 and a fifty-two week high of $218.51. The firm's 50 day moving average is $166.29 and its 200-day moving average is $182.61.

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 for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. On average, analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

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

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.