Targa Resources Corp (NYSE:TRGP) Shares Bought by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. raised its position in Targa Resources Corp (NYSE:TRGP) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555,774 shares of the pipeline company’s stock after acquiring an additional 16,725 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.67% of Targa Resources worth $61,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Samson Capital Management LLC lifted its stake in Targa Resources by 4.3% during the first quarter. Samson Capital Management LLC now owns 127,528 shares of the pipeline company’s stock worth $5,299,000 after purchasing an additional 5,283 shares during the last quarter. Stephens Inc. AR lifted its stake in Targa Resources by 9.6% in the first quarter. Stephens Inc. AR now owns 22,965 shares of the pipeline company’s stock valued at $954,000 after buying an additional 2,002 shares during the last quarter. Payden & Rygel lifted its stake in Targa Resources by 30.6% in the first quarter. Payden & Rygel now owns 506,800 shares of the pipeline company’s stock valued at $21,058,000 after buying an additional 118,600 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Targa Resources by 10.2% in the first quarter. IFM Investors Pty Ltd now owns 14,173 shares of the pipeline company’s stock valued at $589,000 after buying an additional 1,312 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Targa Resources by 45.0% in the first quarter. Penserra Capital Management LLC now owns 8,430 shares of the pipeline company’s stock valued at $348,000 after buying an additional 2,618 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Targa Resources to $51.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Credit Suisse Group reduced their price objective on Targa Resources from $49.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday. ValuEngine upgraded Targa Resources from a “hold” rating to a “buy” rating in a research note on Tuesday. Mizuho set a $45.00 price objective on Targa Resources and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, Evercore ISI reiterated a “hold” rating on shares of Targa Resources in a research note on Sunday, August 11th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.06.

Shares of NYSE:TRGP traded up $0.55 during trading on Friday, reaching $33.63. The company had a trading volume of 14,983 shares, compared to its average volume of 2,466,491. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 167.63 and a beta of 1.76. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.73 and a quick ratio of 0.48. The stock’s fifty day moving average price is $38.73 and its 200 day moving average price is $40.18. Targa Resources Corp has a fifty-two week low of $32.79 and a fifty-two week high of $59.21.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 10.82%. The ex-dividend date was Tuesday, July 30th. Targa Resources’s payout ratio is currently 1,820.00%.

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, 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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

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