XTX Topco Ltd Has $1.40 Million Position in Targa Resources, Inc. (NYSE:TRGP)

XTX Topco Ltd increased its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 319.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,987 shares of the pipeline company’s stock after acquiring an additional 5,321 shares during the quarter. XTX Topco Ltd’s holdings in Targa Resources were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Harvest Fund Management Co. Ltd increased its holdings in shares of Targa Resources by 171.8% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 7,045 shares of the pipeline company’s stock worth $1,412,000 after acquiring an additional 4,453 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Targa Resources in the 1st quarter valued at $1,329,000. Federated Hermes Inc. grew its holdings in Targa Resources by 10.5% in the 1st quarter. Federated Hermes Inc. now owns 511,095 shares of the pipeline company’s stock valued at $102,459,000 after buying an additional 48,436 shares in the last quarter. Cozad Asset Management Inc. grew its holdings in Targa Resources by 1,270.7% in the 1st quarter. Cozad Asset Management Inc. now owns 26,180 shares of the pipeline company’s stock valued at $5,248,000 after buying an additional 24,270 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Targa Resources by 1,895.3% in the 1st quarter. Meeder Asset Management Inc. now owns 34,559 shares of the pipeline company’s stock valued at $6,928,000 after buying an additional 32,827 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

Shares of TRGP stock opened at $166.33 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51. The company has a market cap of $36.08 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.09 and a beta of 1.07. The business has a fifty day simple moving average of $167.78 and a 200 day simple moving average of $180.31.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share 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 business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. On average, sell-side analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. This is an increase from Targa Resources’s previous quarterly dividend of $0.12. Targa Resources’s dividend payout ratio is currently 73.66%.

Analyst Ratings Changes

A number of brokerages have commented on TRGP. JPMorgan Chase & Co. upped their price objective on Targa Resources from $189.00 to $209.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. UBS Group decreased their price objective on Targa Resources from $259.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. TD Cowen began coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating and a $192.00 price objective on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Targa Resources in a report on Tuesday, July 15th. Finally, TD Securities began coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $209.86.

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.