Targa Resources Corp (TRGP) Holdings Increased by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC raised its holdings in shares of Targa Resources Corp (NYSE:TRGP) by 601.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,936 shares of the pipeline company’s stock after purchasing an additional 97,685 shares during the period. Freestone Capital Holdings LLC owned approximately 0.05% of Targa Resources worth $5,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG boosted its stake in shares of Targa Resources by 85.3% in the 4th quarter. Deutsche Bank AG now owns 3,859,839 shares of the pipeline company’s stock worth $186,889,000 after buying an additional 1,776,455 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Targa Resources by 32.0% in the 4th quarter. Bank of New York Mellon Corp now owns 5,334,439 shares of the pipeline company’s stock worth $258,294,000 after buying an additional 1,294,549 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of Targa Resources by 13.6% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 7,321,661 shares of the pipeline company’s stock worth $354,502,000 after buying an additional 874,200 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Targa Resources by 20.6% in the 1st quarter. Neuberger Berman Group LLC now owns 4,308,778 shares of the pipeline company’s stock worth $189,607,000 after buying an additional 737,354 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of Targa Resources by 7.8% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,865,095 shares of the pipeline company’s stock worth $346,064,000 after buying an additional 567,804 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

TRGP has been the topic of a number of research reports. Robert W. Baird set a $60.00 price target on Targa Resources and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price target on shares of Targa Resources in a research note on Friday, February 16th. Seaport Global Securities set a $52.00 price target on Targa Resources and gave the stock a “buy” rating in a research note on Wednesday, February 14th. UBS Group restated a “neutral” rating and issued a $58.00 price target (up from $56.00) on shares of Targa Resources in a research note on Friday, March 2nd. Finally, TheStreet upgraded Targa Resources from a “d+” rating to a “c” rating in a research note on Monday, March 19th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Targa Resources presently has a consensus rating of “Hold” and a consensus target price of $53.71.

Shares of Targa Resources stock opened at $47.93 on Thursday. Targa Resources Corp has a one year low of $39.59 and a one year high of $52.08. The firm has a market capitalization of $11.08 billion, a P/E ratio of -111.47 and a beta of 1.99. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 3rd. The pipeline company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). Targa Resources had a return on equity of 0.88% and a net margin of 1.82%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.70 billion. analysts forecast that Targa Resources Corp will post -0.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, April 30th. This represents a $3.64 dividend on an annualized basis and a yield of 7.59%. Targa Resources’s dividend payout ratio is currently -846.51%.

Targa Resources Company Profile

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.

Want to see what other hedge funds are holding TRGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Targa Resources Corp (NYSE:TRGP).

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit