Toronto Dominion Bank Has $67.18 Million Stake in Targa Resources Corp. (NYSE:TRGP)

Toronto Dominion Bank lifted its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 383.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,353 shares of the pipeline company's stock after purchasing an additional 298,429 shares during the quarter. Toronto Dominion Bank owned 0.17% of Targa Resources worth $67,179,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TRGP. Colonial Trust Co SC boosted its holdings in shares of Targa Resources by 5,400.0% in the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after buying an additional 162 shares during the last quarter. Atala Financial Inc bought a new stake in Targa Resources during the fourth quarter worth $31,000. Cary Street Partners Financial LLC acquired a new stake in Targa Resources in the fourth quarter valued at $31,000. Rakuten Securities Inc. increased its stake in shares of Targa Resources by 394.6% during the 4th quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after purchasing an additional 146 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Targa Resources in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on TRGP shares. Mizuho set a $212.00 price objective on Targa Resources and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Truist Financial raised their price target on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Royal Bank of Canada reduced their price objective 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. UBS Group dropped their price objective on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, Barclays reduced their target price 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $198.79.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded down $1.06 on Thursday, reaching $158.28. 1,663,633 shares of the company's stock were exchanged, compared to its average volume of 1,799,577. Targa Resources Corp. has a twelve month low of $114.36 and a twelve month high of $218.51. The company has a fifty day moving average of $172.11 and a 200-day moving average of $187.17. The company has a market capitalization of $34.34 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 0.61 and a beta of 1.22. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. On average, research analysts predict that Targa Resources Corp. 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 issued 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 dividend payout ratio (DPR) is presently 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.