Vontobel Holding Ltd. Has $856,000 Stock Position in Targa Resources, Inc. $TRGP

Vontobel Holding Ltd. raised its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 30.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,918 shares of the pipeline company’s stock after purchasing an additional 1,160 shares during the quarter. Vontobel Holding Ltd.’s holdings in Targa Resources were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in Targa Resources by 578.9% during the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Disciplina Capital Management LLC acquired a new position in shares of Targa Resources in the 1st quarter worth approximately $46,000. Olde Wealth Management LLC acquired a new position in shares of Targa Resources in the 1st quarter worth approximately $52,000. Wolff Wiese Magana LLC boosted its holdings in shares of Targa Resources by 376.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock worth $60,000 after acquiring an additional 237 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Targa Resources in the 2nd quarter worth approximately $63,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TRGP shares. Barclays boosted their target price on Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. TD Securities started coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating on the stock. Mizuho reduced their target price on Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. BMO Capital Markets started coverage on Targa Resources in a report on Friday, September 19th. They issued an “outperform” rating and a $185.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.67.

Targa Resources Stock Performance

TRGP stock opened at $152.43 on Monday. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The company has a 50 day moving average price of $165.04 and a 200 day moving average price of $167.53. Targa Resources, Inc. has a fifty-two week low of $150.00 and a fifty-two week high of $218.51. The stock has a market capitalization of $32.80 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.92. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. Analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

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.