Achmea Investment Management B.V. Grows Position in Targa Resources, Inc. $TRGP

Achmea Investment Management B.V. boosted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 18.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,605 shares of the pipeline company’s stock after purchasing an additional 21,715 shares during the quarter. Achmea Investment Management B.V. owned about 0.06% of Targa Resources worth $24,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRGP. GQG Partners LLC grew its holdings in shares of Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock worth $724,560,000 after purchasing an additional 1,410,747 shares during the last quarter. Nuveen LLC purchased a new position in Targa Resources during the 1st quarter worth approximately $196,351,000. Wellington Management Group LLP grew its stake 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 during the period. Goldman Sachs Group Inc. grew its stake in Targa Resources by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock valued at $551,033,000 after acquiring an additional 834,666 shares during the period. Finally, Amundi grew its stake in Targa Resources by 33.8% in the 1st quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock valued at $493,812,000 after acquiring an additional 622,096 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

TRGP has been the topic of several recent research reports. Cfra Research raised shares of Targa Resources to a “hold” rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price target on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research report on Thursday, August 14th. Finally, BMO Capital Markets assumed coverage on Targa Resources in a report on Friday, September 19th. They issued an “outperform” rating and a $185.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Price Performance

Targa Resources stock opened at $162.16 on Thursday. The business has a 50 day simple moving average of $161.04 and a 200-day simple moving average of $164.67. The stock has a market capitalization of $34.89 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51.

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, beating 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%. Equities analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is currently 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.