Union Bancaire Privee UBP SA Takes Position in Targa Resources Corp. (NYSE:TRGP)

Union Bancaire Privee UBP SA purchased a new position in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 13,074 shares of the pipeline company’s stock, valued at approximately $2,200,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRGP. Sequoia Financial Advisors LLC increased its holdings in Targa Resources by 21.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the pipeline company’s stock worth $679,000 after acquiring an additional 815 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock worth $30,232,000 after acquiring an additional 202,822 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Targa Resources by 36.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 74,841 shares of the pipeline company’s stock worth $11,077,000 after acquiring an additional 19,902 shares in the last quarter. Ballentine Partners LLC increased its holdings in Targa Resources by 3.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,529 shares of the pipeline company’s stock worth $522,000 after acquiring an additional 118 shares in the last quarter. Finally, Trueblood Wealth Management LLC purchased a new stake in Targa Resources in the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.9 %

Shares of TRGP stock opened at $200.89 on Monday. The company’s 50-day moving average price is $195.91 and its 200-day moving average price is $176.23. Targa Resources Corp. has a twelve month low of $95.88 and a twelve month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market cap of $43.81 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. As a group, equities analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Targa Resources’s payout ratio is currently 52.26%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TRGP. Royal Bank of Canada boosted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group lifted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank initiated coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Targa Resources presently has a consensus rating of “Buy” and a consensus price target of $203.77.

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.