Targa Resources Corp (TRGP) Shares Bought by Axa
Axa raised its position in shares of Targa Resources Corp (NYSE:TRGP) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,548 shares of the pipeline company’s stock after buying an additional 2,784 shares during the period. Axa’s holdings in Targa Resources were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Waddell & Reed Financial Inc. boosted its position in shares of Targa Resources by 4.3% during the second quarter. Waddell & Reed Financial Inc. now owns 215,430 shares of the pipeline company’s stock worth $10,662,000 after buying an additional 8,950 shares during the period. Baird Financial Group Inc. boosted its holdings in Targa Resources by 4.6% in the second quarter. Baird Financial Group Inc. now owns 42,704 shares of the pipeline company’s stock valued at $2,113,000 after purchasing an additional 1,861 shares during the period. IFM Investors Pty Ltd boosted its holdings in Targa Resources by 14.2% in the third quarter. IFM Investors Pty Ltd now owns 11,591 shares of the pipeline company’s stock valued at $653,000 after purchasing an additional 1,444 shares during the period. Andra AP fonden purchased a new position in Targa Resources in the second quarter valued at $1,539,000. Finally, PointState Capital LP boosted its holdings in Targa Resources by 92.3% in the second quarter. PointState Capital LP now owns 8,853,306 shares of the pipeline company’s stock valued at $438,150,000 after purchasing an additional 4,248,784 shares during the period. Institutional investors and hedge funds own 93.25% of the company’s stock.
TRGP opened at $43.64 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.68. Targa Resources Corp has a one year low of $41.75 and a one year high of $59.21. The stock has a market cap of $10.36 billion, a PE ratio of -101.49 and a beta of 1.91.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.34%. The ex-dividend date was Tuesday, October 30th. Targa Resources’s dividend payout ratio (DPR) is currently -846.51%.
In other news, Director Chris Tong bought 2,200 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of $47.00 per share, for a total transaction of $103,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.76% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Targa Resources to $56.00 in a report on Sunday, December 2nd. Mizuho assumed coverage on Targa Resources in a report on Wednesday, November 28th. They issued a “neutral” rating and a $56.00 target price for the company. ValuEngine lowered Targa Resources from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. US Capital Advisors upgraded Targa Resources from a “hold” rating to an “overweight” rating in a report on Monday, November 19th. Finally, Zacks Investment Research upgraded Targa Resources from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Friday, November 9th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.20.
About Targa Resources
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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