Vise Technologies Inc. Makes New $1.57 Million Investment in Targa Resources, Inc. $TRGP

Vise Technologies Inc. acquired a new stake in Targa Resources, Inc. (NYSE:TRGP) in the second quarter, HoldingsChannel.com reports. The firm acquired 9,034 shares of the pipeline company’s stock, valued at approximately $1,573,000.

A number of other hedge funds have also modified their holdings of TRGP. Disciplina Capital Management LLC acquired a new position in shares of Targa Resources in the 1st quarter valued at $46,000. Hilltop National Bank acquired a new stake in Targa Resources during the 2nd quarter worth $63,000. Private Trust Co. NA grew its position in Targa Resources by 57.1% during the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 173 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in Targa Resources by 61.0% in the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 183 shares during the period. Finally, Atwood & Palmer Inc. raised its holdings in shares of Targa Resources by 538.9% in the second quarter. Atwood & Palmer Inc. now owns 575 shares of the pipeline company’s stock valued at $100,000 after buying an additional 485 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research report on Thursday, November 6th. Cfra Research raised Targa Resources to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. BMO Capital Markets upped their price objective on Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of Targa Resources in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Stock Up 2.2%

Targa Resources stock opened at $173.17 on Wednesday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51. The firm has a market capitalization of $37.17 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The stock’s fifty day moving average is $161.34 and its two-hundred day moving average is $164.58. 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 (NYSE:TRGP) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.70 billion. Analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $1.00 per share. The ex-dividend date is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Targa Resources’s payout ratio is presently 53.19%.

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.