Y Intercept Hong Kong Ltd Makes New $2.51 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Y Intercept Hong Kong Ltd acquired a new position in Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,036 shares of the pipeline company’s stock, valued at approximately $2,505,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its holdings in Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after buying an additional 66 shares in the last quarter. Mather Group LLC. lifted its holdings in Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock worth $540,000 after buying an additional 68 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company’s stock worth $321,000 after buying an additional 84 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in Targa Resources by 3.9% in the 4th quarter. Catalina Capital Group LLC now owns 2,239 shares of the pipeline company’s stock worth $400,000 after buying an additional 85 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $198.19 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a fifty-two week low of $95.88 and a fifty-two week high of $218.51. The firm has a 50-day simple moving average of $195.91 and a 200 day simple moving average of $176.53. The company has a market cap of $43.22 billion, a PE ratio of 34.53, a P/E/G ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 52.26%.

Analyst Ratings Changes

TRGP has been the topic of a number of recent analyst reports. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus upped their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Scotiabank initiated coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Mizuho upped their target price on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $203.77.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.