Asset Management One Co. Ltd. Has $15.52 Million Holdings in Targa Resources, Inc. $TRGP

Asset Management One Co. Ltd. boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,165 shares of the pipeline company’s stock after buying an additional 6,183 shares during the period. Asset Management One Co. Ltd.’s holdings in Targa Resources were worth $15,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Targa Resources by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company’s stock valued at $5,529,820,000 after acquiring an additional 423,667 shares in the last quarter. Wellington Management Group LLP grew its stake in Targa Resources by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock valued at $2,764,673,000 after acquiring an additional 962,631 shares in the last quarter. Invesco Ltd. grew its stake in Targa Resources by 3.2% during the 1st quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company’s stock valued at $915,338,000 after acquiring an additional 139,780 shares in the last quarter. GQG Partners LLC grew its stake in Targa Resources by 64.0% during the 1st quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock valued at $724,560,000 after acquiring an additional 1,410,747 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Targa Resources by 2.8% during 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 acquiring an additional 77,999 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of several research analyst reports. Royal Bank Of Canada lifted 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. BMO Capital Markets assumed coverage on Targa Resources in a research note on Friday, September 19th. They issued an “outperform” rating and a $185.00 price target for the company. Wall Street Zen raised Targa Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Targa Resources in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and a consensus target price of $209.50.

Targa Resources Stock Down 2.0%

TRGP opened at $153.73 on Monday. The business has a 50 day moving average price of $162.29 and a 200 day moving average price of $165.49. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market cap of $33.08 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 0.98 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last posted its earnings results 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. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.82 billion. Research analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. 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.