Targa Resources, Inc. (NYSE:TRGP) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 29.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,758 shares of the pipeline company’s stock after purchasing an additional 864 shares during the period. Vontobel Holding Ltd.’s holdings in Targa Resources were worth $753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Colonial Trust Co SC lifted its stake in Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Atala Financial Inc purchased a new stake in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Cary Street Partners Financial LLC purchased a new stake in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Ameriflex Group Inc. purchased a new stake in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Targa Resources in the 4th quarter valued at approximately $32,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRGP shares. UBS Group reduced their price target on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Scotiabank increased their target price on shares of Targa Resources from $193.00 to $197.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 5th. Citigroup cut their target price on shares of Targa Resources from $227.00 to $197.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Mizuho set a $212.00 target price on shares of Targa Resources and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $205.00 target price (up previously from $191.00) on shares of Targa Resources in a research report on Thursday, June 26th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of “Buy” and an average target price of $209.67.

Targa Resources Stock Performance

Shares of TRGP opened at $173.52 on Monday. The company has a market capitalization of $37.64 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 0.62 and a beta of 1.07. Targa Resources, Inc. has a one year low of $122.56 and a one year high of $218.51. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The company’s fifty day moving average price is $166.38 and its 200 day moving average price is $182.30.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. As a group, analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid 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 payout ratio is currently 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.