Private Trust Co. NA Has $83,000 Holdings in Targa Resources, Inc. $TRGP

Private Trust Co. NA lifted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 57.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 476 shares of the pipeline company’s stock after acquiring an additional 173 shares during the period. Private Trust Co. NA’s holdings in Targa Resources were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRGP. Vanguard Group Inc. boosted its position in Targa Resources by 1.6% during the first quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company’s stock worth $5,529,820,000 after purchasing an additional 423,667 shares during the period. Wellington Management Group LLP lifted its stake in shares of Targa Resources by 7.5% in the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock worth $2,764,673,000 after buying an additional 962,631 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Targa Resources by 3.2% in the first quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company’s stock worth $915,338,000 after buying an additional 139,780 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Targa Resources by 64.0% during the 1st quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock worth $724,560,000 after buying an additional 1,410,747 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Targa Resources by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,834,418 shares of the pipeline company’s stock valued at $568,217,000 after buying an additional 77,999 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TRGP shares. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research report on Thursday, August 14th. Mizuho cut their price objective on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Royal Bank Of Canada increased their target price on Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. TD Securities initiated coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target 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, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Trading Up 2.0%

Targa Resources stock opened at $154.47 on Thursday. The business has a 50 day moving average price of $162.66 and a two-hundred day moving average price of $165.61. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The stock has a market cap of $33.24 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last announced 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 company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. As a group, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is 56.58%.

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.