Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Targa Resources Corp. (NYSE:TRGP) by 31.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,520 shares of the pipeline company’s stock after purchasing an additional 9,927 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Targa Resources were worth $7,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. DT Investment Partners LLC acquired a new stake in Targa Resources during the third quarter worth approximately $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Targa Resources during the third quarter worth $35,000. Rosenberg Matthew Hamilton grew its position in shares of Targa Resources by 49.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 89 shares during the period. UMB Bank n.a. increased its stake in Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after purchasing an additional 106 shares during the last quarter. Finally, Huntington National Bank lifted its position in Targa Resources by 22.9% during the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after buying an additional 89 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TRGP. Barclays upped their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Scotiabank began coverage on Targa Resources in a report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. Wells Fargo & Company boosted their price target on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley raised their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

Targa Resources stock opened at $201.30 on Friday. Targa Resources Corp. has a 12-month low of $86.56 and a 12-month high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market capitalization of $43.90 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The firm’s fifty day moving average price is $193.13 and its 200 day moving average price is $170.46.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, research analysts forecast that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Targa Resources 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.