Targa Resources, Inc. $TRGP Stake Lifted by Deutsche Bank AG

Deutsche Bank AG boosted its stake in Targa Resources, Inc. (NYSE:TRGP) by 21.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,025,248 shares of the pipeline company’s stock after buying an additional 539,582 shares during the period. Deutsche Bank AG’s holdings in Targa Resources were worth $811,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Targa Resources by 1.3% during the 4th quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock valued at $2,337,289,000 after purchasing an additional 162,878 shares during the period. Geode Capital Management LLC increased its stake in shares of Targa Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock valued at $1,078,497,000 after purchasing an additional 45,495 shares during the period. Norges Bank bought a new stake in shares of Targa Resources during the fourth quarter valued at approximately $735,758,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Targa Resources by 20.3% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock valued at $625,272,000 after buying an additional 572,562 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Targa Resources by 48.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock worth $607,023,000 after buying an additional 1,075,246 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRGP. Jefferies Financial Group set a $324.00 target price on Targa Resources in a research note on Friday, August 7th. Raymond James Financial set a $335.00 price target on Targa Resources in a report on Friday, August 7th. US Capital Advisors cut shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Royal Bank Of Canada upped their price objective on shares of Targa Resources from $310.00 to $312.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, Stifel Nicolaus set a $268.00 target price on shares of Targa Resources in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Targa Resources has an average rating of “Buy” and a consensus price target of $295.35.

Targa Resources Stock Up 0.7%

TRGP opened at $277.80 on Tuesday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $59.57 billion, a PE ratio of 26.56, a P/E/G ratio of 1.43 and a beta of 0.72. The stock’s fifty day moving average is $269.60 and its 200-day moving average is $251.72. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $291.04.

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

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s payout ratio is currently 47.80%.

About Targa Resources

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.