Teacher Retirement System of Texas Has $7.93 Million Stock Holdings in Targa Resources, Inc. (NYSE:TRGP)

Teacher Retirement System of Texas decreased its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 44.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,570 shares of the pipeline company's stock after selling 31,549 shares during the period. Teacher Retirement System of Texas' holdings in Targa Resources were worth $7,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TRGP. First Horizon Advisors Inc. increased its position in shares of Targa Resources by 25.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,306 shares of the pipeline company's stock worth $262,000 after purchasing an additional 262 shares in the last quarter. Arlington Trust Co LLC grew its position in shares of Targa Resources by 56.8% during the 1st quarter. Arlington Trust Co LLC now owns 2,485 shares of the pipeline company's stock worth $498,000 after buying an additional 900 shares during the period. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Targa Resources in the 1st quarter valued at approximately $201,000. Summit Trail Advisors LLC grew its position in shares of Targa Resources by 6.2% in the 1st quarter. Summit Trail Advisors LLC now owns 5,094 shares of the pipeline company's stock valued at $1,021,000 after purchasing an additional 297 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Targa Resources by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,716 shares of the pipeline company's stock worth $4,754,000 after acquiring an additional 359 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $205.00 price objective (up previously from $191.00) on shares of Targa Resources in a report on Thursday, June 26th. The Goldman Sachs Group cut their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 5th. Barclays cut their price objective on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a report on Tuesday, May 20th. UBS Group cut their price objective on Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Finally, Morgan Stanley increased their price objective on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $209.67.

Targa Resources Price Performance

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 stock has a fifty day simple moving average of $166.38 and a 200-day simple moving average of $182.23. The company has a market capitalization of $37.64 billion, a P/E ratio of 31.96, a PEG ratio of 0.62 and a beta of 1.07. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released 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). The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. On average, analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

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