Pin Oak Investment Advisors Inc. acquired a new stake in shares of Targa Resources Corp (NYSE:TRGP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,249 shares of the pipeline company’s stock, valued at approximately $206,000.
Other large investors have also recently added to or reduced their stakes in the company. James Hambro & Partners acquired a new position in Targa Resources during the fourth quarter worth about $111,000. SeaCrest Wealth Management LLC acquired a new position in Targa Resources during the fourth quarter worth about $111,000. Searle & CO. acquired a new position in Targa Resources during the fourth quarter worth about $200,000. Quadrant Private Wealth Management LLC acquired a new position in Targa Resources during the fourth quarter worth about $203,000. Finally, Guyasuta Investment Advisors Inc. acquired a new position in Targa Resources during the third quarter worth about $206,000. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on TRGP. TheStreet raised Targa Resources from a “d+” rating to a “c” rating in a research note on Monday. Robert W. Baird reissued a “neutral” rating on shares of Targa Resources in a research note on Thursday, March 15th. UBS reissued a “neutral” rating and issued a $58.00 price target (up previously from $56.00) on shares of Targa Resources in a research note on Friday, March 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price target on shares of Targa Resources in a research note on Friday, February 16th. Finally, Seaport Global Securities set a $52.00 price target on Targa Resources and gave the stock a “buy” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $54.76.
Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). Targa Resources had a negative return on equity of 1.24% and a net margin of 0.27%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.30 billion. equities analysts predict that Targa Resources Corp will post -0.04 earnings per share for the current fiscal year.
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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