ING Groep NV Has $8.92 Million Holdings in Targa Resources Corp. (NYSE:TRGP)

ING Groep NV boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP) by 70.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,951 shares of the pipeline company’s stock after purchasing an additional 20,651 shares during the quarter. ING Groep NV’s holdings in Targa Resources were worth $8,916,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new position in shares of Targa Resources in the 3rd quarter valued at $29,000. Aspect Partners LLC raised its stake in shares of Targa Resources by 144.4% in the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock valued at $39,000 after buying an additional 130 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Targa Resources in the 3rd quarter valued at $35,000. Rosenberg Matthew Hamilton raised its stake in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Targa Resources in the 4th quarter valued at $49,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley increased their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus target price of $203.77.

Targa Resources Stock Down 1.9 %

Shares of NYSE:TRGP opened at $200.89 on Friday. Targa Resources Corp. has a 12 month low of $95.88 and a 12 month high of $218.51. The company’s 50-day moving average price is $195.58 and its two-hundred day moving average price is $175.41. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $43.81 billion, a P/E ratio of 36.33, a P/E/G ratio of 0.62 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data 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 return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, research analysts forecast that Targa Resources Corp. will post 6.36 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

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.