Vise Technologies Inc. Acquires New Holdings in Targa Resources, Inc. $TRGP

Vise Technologies Inc. bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,034 shares of the pipeline company’s stock, valued at approximately $1,573,000.

Other institutional investors have also made changes to their positions in the company. Disciplina Capital Management LLC acquired a new position in shares of Targa Resources in the 1st quarter worth approximately $46,000. Hilltop National Bank purchased a new stake in Targa Resources in the second quarter valued at approximately $63,000. Private Trust Co. NA raised its position in Targa Resources by 57.1% in the second quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 173 shares during the period. Wolff Wiese Magana LLC lifted its stake in Targa Resources by 61.0% during the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock worth $84,000 after purchasing an additional 183 shares in the last quarter. Finally, Atwood & Palmer Inc. boosted its position in shares of Targa Resources by 538.9% during the second quarter. Atwood & Palmer Inc. now owns 575 shares of the pipeline company’s stock worth $100,000 after buying an additional 485 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Price Performance

TRGP stock opened at $173.17 on Wednesday. The business has a 50 day moving average price of $161.34 and a 200 day moving average price of $164.58. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. The stock has a market cap of $37.17 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51.

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

Targa Resources Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRGP. Cfra Research raised Targa Resources to a “hold” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their target price on Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Scotiabank reiterated an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. Wells Fargo & Company reissued an “overweight” rating and set a $205.00 price target (up previously from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Targa Resources in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.