Brookfield Asset Management Inc. lifted its holdings in shares of Targa Resources Corp (NYSE:TRGP) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,596,806 shares of the pipeline company’s stock after buying an additional 376,574 shares during the period. Brookfield Asset Management Inc. owned about 1.20% of Targa Resources worth $125,737,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of TRGP. SeaCrest Wealth Management LLC acquired a new stake in Targa Resources in the 4th quarter valued at about $111,000. James Hambro & Partners acquired a new stake in Targa Resources in the 4th quarter valued at about $111,000. Searle & CO. acquired a new stake in Targa Resources in the 4th quarter valued at about $200,000. Quadrant Private Wealth Management LLC acquired a new stake in Targa Resources in the 4th quarter valued at about $203,000. Finally, Guyasuta Investment Advisors Inc. acquired a new stake in Targa Resources in the 3rd quarter valued at about $206,000. Institutional investors own 90.10% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Robert W. Baird set a $60.00 target price on shares of Targa Resources and gave the company a “buy” rating in a research note on Wednesday, March 14th. ValuEngine downgraded shares of Targa Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus cut their target price on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 20th. Goldman Sachs upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Thursday, February 1st. Finally, UBS reiterated a “neutral” rating and issued a $58.00 target price (up from $56.00) on shares of Targa Resources in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued 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 Corp (NYSE TRGP) opened at $46.16 on Tuesday. The firm has a market cap of $10,444.77, a PE ratio of -94.20 and a beta of 2.05. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 0.70. Targa Resources Corp has a fifty-two week low of $39.59 and a fifty-two week high of $60.62.
Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). Targa Resources had a net margin of 0.61% and a return on equity of 3.53%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.30 billion. equities research analysts anticipate that Targa Resources Corp will post -0.04 earnings per share for the current year.
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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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