ProShare Advisors LLC Purchases 6,314 Shares of Targa Resources, Inc. $TRGP

ProShare Advisors LLC grew its position in Targa Resources, Inc. (NYSE:TRGP) by 9.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 71,092 shares of the pipeline company’s stock after buying an additional 6,314 shares during the period. ProShare Advisors LLC’s holdings in Targa Resources were worth $12,376,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TRGP. GQG Partners LLC boosted its holdings in Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock valued at $724,560,000 after acquiring an additional 1,410,747 shares during the last quarter. Nuveen LLC bought a new position in shares of Targa Resources in the 1st quarter valued at about $196,351,000. Wellington Management Group LLP boosted its stake in shares of Targa Resources by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock valued at $2,764,673,000 after purchasing an additional 962,631 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Targa Resources by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock worth $551,033,000 after buying an additional 834,666 shares during the period. Finally, Amundi raised its stake in shares of Targa Resources by 33.8% during the first quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock worth $493,812,000 after buying an additional 622,096 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $173.17 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a fifty day simple moving average of $161.34 and a 200 day simple moving average of $164.58. The stock has a market cap of $37.17 billion, a P/E ratio of 24.49, a P/E/G ratio of 0.91 and a beta of 1.16.

Targa Resources (NYSE:TRGP) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.70 billion. On average, research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a $1.00 dividend. The ex-dividend date is Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Targa Resources’s payout ratio is currently 53.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus set a $213.00 price target on Targa Resources in a research report on Thursday, November 6th. Cfra Research raised Targa Resources to a “hold” rating in a research note on Friday, August 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price objective (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Finally, Scotiabank restated an “outperform” rating on shares of Targa Resources in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

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.