Norinchukin Bank The Grows Holdings in Targa Resources, Inc. $TRGP

Norinchukin Bank The grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 9.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,470 shares of the pipeline company’s stock after acquiring an additional 757 shares during the period. Norinchukin Bank The’s holdings in Targa Resources were worth $1,698,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TRGP. GQG Partners LLC raised its stake in shares of Targa Resources by 64.0% in 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 during the period. Nuveen LLC acquired a new position in Targa Resources during the 1st quarter worth approximately $196,351,000. Wellington Management Group LLP grew its holdings 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 worth $2,764,673,000 after acquiring an additional 962,631 shares in the last quarter. GAMMA Investing LLC grew its holdings in Targa Resources by 22,699.0% during the 1st quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company’s stock worth $186,112,000 after acquiring an additional 924,305 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Targa Resources by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock worth $551,033,000 after acquiring an additional 834,666 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TRGP. UBS Group lowered their price target on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, May 15th. Citigroup lowered their target price on shares of Targa Resources from $227.00 to $197.00 and set a “buy” rating for the company in a report on Friday, May 9th. Wall Street Zen upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group lowered their target price on shares of Targa Resources from $218.00 to $194.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.21.

Targa Resources Trading Up 0.5%

NYSE TRGP opened at $162.9190 on Friday. The stock has a market capitalization of $35.06 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.99 and a beta of 1.12. The stock’s 50 day moving average price is $167.92 and its two-hundred day moving average price is $175.60. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. Targa Resources, Inc. has a 52 week low of $142.11 and a 52 week high of $218.51.

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

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, July 31st. This is a positive change from Targa Resources’s previous quarterly dividend of $0.12. Targa Resources’s dividend payout ratio (DPR) is presently 56.58%.

Targa Resources Company 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.