Boston Partners Purchases 15,375 Shares of Targa Resources, Inc. (TRGP)
Boston Partners raised its position in Targa Resources, Inc. (NYSE:TRGP) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,472,959 shares of the pipeline company’s stock after acquiring an additional 15,375 shares during the quarter. Boston Partners owned 0.68% of Targa Resources worth $69,671,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Targa Resources by 17.7% during the second quarter. Vanguard Group Inc. now owns 18,768,732 shares of the pipeline company’s stock worth $848,347,000 after buying an additional 2,823,104 shares in the last quarter. BlackRock Inc. boosted its holdings in Targa Resources by 13.3% in the second quarter. BlackRock Inc. now owns 11,428,578 shares of the pipeline company’s stock worth $516,575,000 after purchasing an additional 1,338,025 shares during the period. Chickasaw Capital Management LLC boosted its holdings in Targa Resources by 3.2% in the second quarter. Chickasaw Capital Management LLC now owns 7,921,492 shares of the pipeline company’s stock worth $358,051,000 after purchasing an additional 244,459 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in Targa Resources by 30.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,721,135 shares of the pipeline company’s stock worth $303,795,000 after purchasing an additional 1,566,961 shares during the period. Finally, Center Coast Capital Advisors LP lifted its stake in Targa Resources by 29.4% in the second quarter. Center Coast Capital Advisors LP now owns 5,508,319 shares of the pipeline company’s stock valued at $248,976,000 after buying an additional 1,252,133 shares during the last quarter. 87.36% of the stock is owned by institutional investors.
Targa Resources, Inc. (NYSE:TRGP) opened at $44.13 on Friday. Targa Resources, Inc. has a 12 month low of $39.59 and a 12 month high of $61.83. The company has a quick ratio of 0.51, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.91 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 8.25%. Targa Resources’s dividend payout ratio is currently -136.84%.
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A number of equities research analysts recently weighed in on the stock. Citigroup Inc. cut shares of Targa Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $54.00 to $52.00 in a research note on Tuesday, October 10th. BMO Capital Markets set a $51.00 price objective on shares of Targa Resources and gave the company a “hold” rating in a research note on Friday, October 13th. Wells Fargo & Company cut their price objective on shares of Targa Resources from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Jefferies Group LLC cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $53.00 target price on shares of Targa Resources in a report on Sunday, September 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Targa Resources currently has a consensus rating of “Hold” and a consensus price target of $54.44.
About Targa Resources
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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