Bramshill Investments LLC Sells 19,493 Shares of Targa Resources Corp (TRGP)
Bramshill Investments LLC decreased its stake in shares of Targa Resources Corp (NYSE:TRGP) by 45.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,165 shares of the pipeline company’s stock after selling 19,493 shares during the quarter. Bramshill Investments LLC’s holdings in Targa Resources were worth $1,122,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Targa Resources by 2.5% during the fourth quarter. BlackRock Inc. now owns 12,035,357 shares of the pipeline company’s stock worth $582,754,000 after buying an additional 295,541 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Targa Resources by 13.6% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 7,321,661 shares of the pipeline company’s stock worth $354,502,000 after purchasing an additional 874,200 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Targa Resources by 3.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,958,912 shares of the pipeline company’s stock worth $329,157,000 after purchasing an additional 237,777 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Targa Resources by 32.0% during the fourth quarter. Bank of New York Mellon Corp now owns 5,334,439 shares of the pipeline company’s stock worth $258,294,000 after purchasing an additional 1,294,549 shares during the last quarter. Finally, Harvest Fund Advisors LLC boosted its holdings in shares of Targa Resources by 40.8% during the third quarter. Harvest Fund Advisors LLC now owns 4,990,690 shares of the pipeline company’s stock worth $236,060,000 after purchasing an additional 1,446,438 shares during the last quarter. 90.31% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the company. ValuEngine cut Targa Resources from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and set a $55.00 price objective on shares of Targa Resources in a report on Friday, February 16th. Credit Suisse Group assumed coverage on Targa Resources in a report on Thursday, January 4th. They set a “neutral” rating and a $46.00 price objective on the stock. Bank of America assumed coverage on Targa Resources in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Finally, Citigroup raised their price objective on Targa Resources from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Targa Resources currently has an average rating of “Hold” and a consensus price target of $54.35.
Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). Targa Resources had a net margin of 0.27% and a negative return on equity of 1.24%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.30 billion. equities analysts forecast that Targa Resources Corp will post -0.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date of this dividend was Wednesday, January 31st. Targa Resources’s payout ratio is currently -224.69%.
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Targa Resources Company Profile
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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