Principal Financial Group Inc. Has $73.06 Million Stake in Targa Resources, Inc. (TRGP)

Principal Financial Group Inc. grew its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,544,522 shares of the pipeline company’s stock after buying an additional 45,064 shares during the period. Principal Financial Group Inc. owned 0.72% of Targa Resources worth $73,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aviva PLC increased its position in shares of Targa Resources by 8.9% during the second quarter. Aviva PLC now owns 128,243 shares of the pipeline company’s stock valued at $5,797,000 after buying an additional 10,500 shares during the period. Andra AP fonden increased its position in shares of Targa Resources by 46.2% during the second quarter. Andra AP fonden now owns 46,500 shares of the pipeline company’s stock valued at $2,102,000 after buying an additional 14,700 shares during the period. Stonepeak GP Investors Manager LLC purchased a new position in shares of Targa Resources during the second quarter worth about $15,551,000. Usca Ria LLC grew its holdings in shares of Targa Resources by 3.7% during the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 178 shares in the last quarter. Finally, GAM Holding AG grew its holdings in shares of Targa Resources by 63.5% during the second quarter. GAM Holding AG now owns 28,325 shares of the pipeline company’s stock worth $1,280,000 after purchasing an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

TRGP has been the subject of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $54.00 price objective (down previously from $63.00) on shares of Targa Resources in a report on Monday, July 17th. Guggenheim raised Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, August 14th. Jefferies Group LLC reissued a “buy” rating and set a $49.00 price objective (down previously from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price objective on shares of Targa Resources in a report on Monday, August 21st. Finally, Robert W. Baird reissued a “buy” rating and set a $53.00 price objective on shares of Targa Resources in a report on Sunday, September 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.44.

Shares of Targa Resources, Inc. (NYSE:TRGP) opened at $42.29 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources, Inc. has a 12-month low of $39.59 and a 12-month high of $61.83.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $3.64 annualized dividend and a yield of 8.61%. Targa Resources’s payout ratio is currently -136.84%.

ILLEGAL ACTIVITY NOTICE: This article was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/11/14/principal-financial-group-inc-has-73-06-million-stake-in-targa-resources-inc-trgp.html.

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.

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply