Aperio Group LLC grew its position in Targa Resources, Inc. (NYSE:TRGP) by 42.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,135 shares of the pipeline company’s stock after purchasing an additional 23,655 shares during the quarter. Aperio Group LLC’s holdings in Targa Resources were worth $3,743,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in TRGP. Vanguard Group Inc. raised its position in shares of Targa Resources by 17.7% in the second quarter. Vanguard Group Inc. now owns 18,768,732 shares of the pipeline company’s stock valued at $848,347,000 after purchasing an additional 2,823,104 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Targa Resources by 30.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,721,135 shares of the pipeline company’s stock valued at $303,795,000 after purchasing an additional 1,566,961 shares during the period. Boston Partners bought a new position in shares of Targa Resources in the second quarter valued at approximately $65,883,000. BlackRock Inc. raised its position in shares of Targa Resources by 13.3% in the second quarter. BlackRock Inc. now owns 11,428,578 shares of the pipeline company’s stock valued at $516,575,000 after purchasing an additional 1,338,025 shares during the period. Finally, Center Coast Capital Advisors LP raised its position in shares of Targa Resources by 29.4% in the second quarter. Center Coast Capital Advisors LP now owns 5,508,319 shares of the pipeline company’s stock valued at $248,976,000 after purchasing an additional 1,252,133 shares during the period. 87.36% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Wells Fargo & Company lowered shares of Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 target price (down previously from $50.00) on shares of Targa Resources in a research report on Friday, September 1st. ValuEngine raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $50.00 target price on shares of Targa Resources in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.44.
Shares of Targa Resources, Inc. (NYSE:TRGP) opened at $44.36 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources, Inc. has a fifty-two week low of $39.59 and a fifty-two week high of $61.83.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.91 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $3.64 annualized dividend and a dividend yield of 8.21%. Targa Resources’s dividend payout ratio is presently -136.84%.
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Targa Resources Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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