Keybank National Association OH Lowers Position in Targa Resources, Inc. (NYSE:TRGP)

Keybank National Association OH lessened its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,880 shares of the pipeline company's stock after selling 2,560 shares during the quarter. Keybank National Association OH's holdings in Targa Resources were worth $3,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TRGP. Colonial Trust Co SC increased its stake in Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. Atala Financial Inc bought a new position in Targa Resources in the fourth quarter valued at $31,000. Cary Street Partners Financial LLC bought a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Ameriflex Group Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at about $32,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Down 0.1%

Shares of NYSE TRGP traded down $0.26 during trading hours on Friday, hitting $173.52. The company's stock had a trading volume of 760,692 shares, compared to its average volume of 1,840,013. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 0.62 and a beta of 1.07. Targa Resources, Inc. has a 12 month low of $122.56 and a 12 month high of $218.51. The business has a 50-day simple moving average of $166.38 and a 200-day simple moving average of $182.23.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. The company had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. On average, analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business 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 of this dividend was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is presently 73.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TRGP shares. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $205.00 price objective (up from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Citigroup reduced their price objective on Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Truist Financial raised their price objective on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Finally, Scotiabank raised their price objective on Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research note on Thursday, June 5th. Twelve research analysts have rated the stock with a buy rating and two have issued 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 $209.67.

About Targa Resources

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.