Targa Resources, Inc. $TRGP Stock Holdings Decreased by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 98.6% during the second quarter, Holdings Channel reports. The fund owned 169 shares of the pipeline company’s stock after selling 11,932 shares during the quarter. Meeder Asset Management Inc.’s holdings in Targa Resources were worth $45,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Targa Resources by 1.4% during the 2nd quarter. BlackRock Inc. now owns 20,832,687 shares of the pipeline company’s stock worth $5,586,077,000 after purchasing an additional 291,114 shares in the last quarter. State Street Corp lifted its holdings in shares of Targa Resources by 1.3% in the fourth quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock valued at $2,337,289,000 after purchasing an additional 162,878 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Targa Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after buying an additional 45,495 shares during the period. Norges Bank acquired a new stake in shares of Targa Resources in the fourth quarter worth $735,758,000. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of Targa Resources by 20.3% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock valued at $625,272,000 after buying an additional 572,562 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $301.99 on Friday. The stock has a fifty day moving average price of $271.43 and a 200 day moving average price of $253.78. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $306.73. The stock has a market cap of $64.76 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.44 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. Analysts forecast that Targa Resources, Inc. will post 11.05 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $1.25 dividend. The ex-dividend date was Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s dividend payout ratio is currently 47.80%.

Analyst Ratings Changes

Several research analysts recently weighed in on TRGP shares. Stifel Nicolaus set a $268.00 price target on Targa Resources in a research report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Targa Resources in a research report on Wednesday, May 27th. Wolfe Research set a $335.00 target price on Targa Resources in a research note on Friday, August 7th. Scotiabank upped their target price on Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Raymond James Financial set a $335.00 price target on shares of Targa Resources in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Targa Resources has an average rating of “Buy” and an average target price of $297.18.

Targa Resources Company 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.