VestGen Investment Management Has $894,000 Stock Position in Targa Resources, Inc. $TRGP

VestGen Investment Management lowered its holdings in Targa Resources, Inc. (NYSE:TRGP) by 13.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,135 shares of the pipeline company’s stock after selling 790 shares during the quarter. VestGen Investment Management’s holdings in Targa Resources were worth $894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRGP. GQG Partners LLC grew its holdings in 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 buying an additional 1,410,747 shares during the last quarter. Nuveen LLC acquired a new stake in Targa Resources in the 1st quarter valued at approximately $196,351,000. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 962,631 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 834,666 shares in the last quarter. Finally, Amundi grew its holdings in shares of Targa Resources by 33.8% during the 1st quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock worth $493,812,000 after purchasing an additional 622,096 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Trading Down 2.0%

Shares of TRGP opened at $153.73 on Friday. The stock has a fifty day moving average price of $162.29 and a two-hundred day moving average price of $165.55. 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 $144.14 and a 52-week high of $218.51. The company has a market cap of $33.08 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.98 and a beta of 1.12.

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

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several recent research reports. TD Cowen initiated coverage on Targa Resources in a report on Monday, July 7th. They set a “hold” rating and a $192.00 price objective on the stock. TD Securities initiated coverage on Targa Resources in a report on Monday, July 7th. They set a “hold” rating on the stock. Wells Fargo & Company restated an “overweight” rating and set a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. Barclays raised their target price on Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Scotiabank restated an “outperform” rating on shares of Targa Resources in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.50.

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.