Seeyond lowered its stake in shares of Targa Resources Corp (NYSE:TRGP) by 18.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,123 shares of the pipeline company’s stock after selling 4,184 shares during the quarter. Seeyond’s holdings in Targa Resources were worth $751,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TRGP. Samson Capital Management LLC lifted its position in shares of Targa Resources by 4.3% during the 1st quarter. Samson Capital Management LLC now owns 127,528 shares of the pipeline company’s stock worth $5,299,000 after purchasing an additional 5,283 shares during the last quarter. Stephens Inc. AR raised its stake in Targa Resources by 9.6% during the 1st quarter. Stephens Inc. AR now owns 22,965 shares of the pipeline company’s stock worth $954,000 after buying an additional 2,002 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Targa Resources by 1.1% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,555,774 shares of the pipeline company’s stock worth $61,080,000 after buying an additional 16,725 shares during the period. Payden & Rygel raised its stake in Targa Resources by 30.6% during the 1st quarter. Payden & Rygel now owns 506,800 shares of the pipeline company’s stock worth $21,058,000 after buying an additional 118,600 shares during the period. Finally, Penserra Capital Management LLC raised its stake in Targa Resources by 45.0% during the 1st quarter. Penserra Capital Management LLC now owns 8,430 shares of the pipeline company’s stock worth $348,000 after buying an additional 2,618 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Several analysts recently commented on TRGP shares. Mizuho set a $45.00 price objective on Targa Resources and gave the stock a “hold” rating in a research note on Friday, July 12th. Evercore ISI reaffirmed a “hold” rating on shares of Targa Resources in a research note on Sunday, August 11th. Bank of America set a $44.00 price objective on Targa Resources and gave the stock a “buy” rating in a research note on Tuesday. UBS Group set a $54.00 price objective on Targa Resources and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, ValuEngine downgraded Targa Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $51.24.

Shares of TRGP traded up $0.73 during midday trading on Friday, hitting $40.01. The stock had a trading volume of 42,260 shares, compared to its average volume of 2,515,189. The company has a 50 day simple moving average of $36.29 and a two-hundred day simple moving average of $39.13. Targa Resources Corp has a twelve month low of $32.00 and a twelve month high of $59.21. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 200.00 and a beta of 1.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.73 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.15. Targa Resources had a negative return on equity of 0.17% and a negative net margin of 1.81%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analysts forecast that Targa Resources Corp will post -0.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.10%. The ex-dividend date was Tuesday, July 30th. Targa Resources’s dividend payout ratio is 1,820.00%.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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