Targa Resources, Inc. $TRGP Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 29.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,594 shares of the pipeline company’s stock after selling 2,336 shares during the period. Vontobel Holding Ltd.’s holdings in Targa Resources were worth $1,500,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRGP. Atlantic Union Bankshares Corp purchased a new position in Targa Resources in the 4th quarter worth approximately $27,000. Miller Capital Partners Inc. purchased a new stake in shares of Targa Resources in the fourth quarter valued at approximately $30,000. Leonteq Securities AG acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $31,000. CoreCap Advisors LLC increased its holdings in shares of Targa Resources by 245.9% in the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new position in Targa Resources during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP stock opened at $275.77 on Friday. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $291.04. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The stock has a market cap of $59.13 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.72. The business has a fifty day moving average of $269.33 and a two-hundred day moving average of $250.72.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. As a group, research analysts anticipate that Targa Resources, Inc. will post 11.01 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 31st. Targa Resources’s dividend payout ratio (DPR) is presently 47.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TRGP shares. Wolfe Research set a $335.00 price objective on Targa Resources in a research note on Friday, August 7th. Mizuho lifted their price target on Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Citigroup reiterated a “buy” rating on shares of Targa Resources in a report on Wednesday, May 27th. Raymond James Financial set a $335.00 price objective on shares of Targa Resources in a report on Friday, August 7th. Finally, Stifel Nicolaus set a $268.00 price objective on shares of Targa Resources in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $295.35.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.