National Pension Service Purchases 2,489 Shares of Targa Resources, Inc. $TRGP

National Pension Service lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,475 shares of the pipeline company’s stock after purchasing an additional 2,489 shares during the quarter. National Pension Service’s holdings in Targa Resources were worth $43,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRGP. Nordea Investment Management AB lifted its stake in Targa Resources by 260.2% in the second quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after purchasing an additional 93,119 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Targa Resources by 17.6% during the second quarter. Aberdeen Group plc now owns 175,571 shares of the pipeline company’s stock valued at $30,563,000 after buying an additional 26,318 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Targa Resources by 34.2% in the second quarter. Allianz Asset Management GmbH now owns 1,270,128 shares of the pipeline company’s stock worth $221,104,000 after buying an additional 323,398 shares during the period. OFI Invest Asset Management lifted its stake in shares of Targa Resources by 6.5% in the 2nd quarter. OFI Invest Asset Management now owns 243,628 shares of the pipeline company’s stock valued at $42,411,000 after acquiring an additional 14,883 shares during the last quarter. Finally, Freemont Management S.A. lifted its stake in shares of Targa Resources by 30.7% in the 2nd quarter. Freemont Management S.A. now owns 26,400 shares of the pipeline company’s stock valued at $4,596,000 after acquiring an additional 6,200 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target 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 dropped their price objective on Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating for the company in a research note on Thursday. Wall Street Zen cut shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Mizuho lowered their price target on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Finally, The Goldman Sachs Group dropped their price target on shares of Targa Resources from $189.00 to $188.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.86.

Targa Resources Stock Up 1.9%

Shares of NYSE TRGP opened at $173.00 on Friday. The firm has a fifty day simple moving average of $161.75 and a two-hundred day simple moving average of $164.60. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $37.13 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16.

Targa Resources (NYSE:TRGP) last announced 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 net margin of 8.99% and a return on equity of 43.35%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Equities analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued 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 dividend yield of 2.3%. Targa Resources’s dividend payout ratio is 53.19%.

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.