Deutsche Bank AG Raises Stock Holdings in Targa Resources, Inc. $TRGP

Deutsche Bank AG raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 21.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,025,248 shares of the pipeline company’s stock after purchasing an additional 539,582 shares during the period. Deutsche Bank AG owned about 1.41% of Targa Resources worth $811,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRGP. CoreCap Advisors LLC increased its stake in shares of Targa Resources by 245.9% in the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Targa Resources during the 4th quarter valued at $27,000. Miller Capital Partners Inc. bought a new position in Targa Resources during the 4th quarter valued at $30,000. Global Assets Advisory LLC acquired a new position in Targa Resources during the 1st quarter worth $41,000. Finally, Leonteq Securities AG acquired a new position in Targa Resources during the 4th quarter worth $31,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Up 0.7%

TRGP stock opened at $277.80 on Tuesday. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.43 and a beta of 0.72. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $291.04. The firm has a fifty day moving average price of $269.60 and a two-hundred day moving average price of $251.72. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Research analysts predict that Targa Resources, Inc. will post 11.01 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $1.25 per share. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.8%. Targa Resources’s dividend payout ratio is 47.80%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRGP shares. Mizuho upped their target price on shares of Targa Resources from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. US Capital Advisors downgraded Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Jefferies Financial Group set a $324.00 price objective on Targa Resources in a report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and set a $333.00 price objective on shares of Targa Resources in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $295.35.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.