Vise Technologies Inc. Boosts Stock Position in Targa Resources Corp. (NYSE:TRGP)

Vise Technologies Inc. boosted its position in Targa Resources Corp. (NYSE:TRGP - Free Report) by 121.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,572 shares of the pipeline company's stock after purchasing an additional 3,058 shares during the period. Vise Technologies Inc.'s holdings in Targa Resources were worth $995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Norges Bank bought a new position in shares of Targa Resources during the 4th quarter worth approximately $505,132,000. GQG Partners LLC acquired a new stake in Targa Resources in the fourth quarter worth $393,335,000. Canada Pension Plan Investment Board raised its holdings in shares of Targa Resources by 981.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock valued at $204,223,000 after purchasing an additional 1,038,350 shares during the period. Raymond James Financial Inc. bought a new position in shares of Targa Resources during the 4th quarter worth about $150,372,000. Finally, TD Asset Management Inc. grew its stake in shares of Targa Resources by 568.7% in the 4th quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after buying an additional 825,267 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRGP. Royal Bank of Canada dropped their target price on Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. 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. Citigroup cut their price objective on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Truist Financial increased their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $198.79.

Targa Resources Price Performance

NYSE TRGP traded down $2.01 during mid-day trading on Friday, hitting $156.48. The stock had a trading volume of 851,095 shares, compared to its average volume of 1,799,184. The firm's 50 day moving average is $171.18 and its 200 day moving average is $186.92. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a twelve month low of $114.51 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results 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 return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $5.01 billion. Equities research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The business also recently announced 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%.

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.