Vise Technologies Inc. Has $1.94 Million Stock Holdings in Targa Resources, Inc. $TRGP

Vise Technologies Inc. lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 41.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,491 shares of the pipeline company’s stock after purchasing an additional 3,083 shares during the period. Vise Technologies Inc.’s holdings in Targa Resources were worth $1,935,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TRGP. Woodline Partners LP raised its position in shares of Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after acquiring an additional 5,327 shares during the period. Focus Partners Wealth raised its position in shares of Targa Resources by 157.4% in the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares during the period. Baird Financial Group Inc. raised its position in shares of Targa Resources by 6.3% in the 2nd quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock valued at $644,000 after acquiring an additional 219 shares during the period. Brown Advisory Inc. raised its position in shares of Targa Resources by 13.1% in the 2nd quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock valued at $787,000 after acquiring an additional 524 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Targa Resources by 11.0% in the 2nd quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock valued at $5,550,000 after acquiring an additional 3,163 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRGP has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Targa Resources in a research report on Wednesday, May 27th. Seaport Research Partners reiterated a “neutral” rating on shares of Targa Resources in a research report on Monday, May 4th. BMO Capital Markets restated an “outperform” rating and set a $241.00 target price on shares of Targa Resources in a report on Friday, February 20th. Scotiabank raised their target price on shares of Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $281.00 target price on shares of Targa Resources in a report on Tuesday, May 12th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Targa Resources has a consensus rating of “Moderate Buy” and a consensus target price of $269.21.

Insider Buying and Selling at Targa Resources

In other news, Director Charles R. Crisp sold 10,602 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the transaction, the director directly owned 66,492 shares of the company’s stock, valued at $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by corporate insiders.

Targa Resources Stock Performance

Shares of TRGP stock opened at $264.19 on Monday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The company has a market capitalization of $56.71 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72. The company’s 50 day moving average price is $253.46 and its two-hundred day moving average price is $219.78. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $280.00.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.27). The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. On average, analysts expect that Targa Resources, Inc. will post 10.75 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a dividend of $1.25 per share. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, April 30th. This represents a $5.00 annualized dividend and a yield of 1.9%. Targa Resources’s dividend payout ratio is 50.56%.

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.