Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Targa Resources Corp (NYSE:TRGP) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,758 shares of the pipeline company’s stock after buying an additional 19,400 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Targa Resources worth $6,380,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TRGP. SeaCrest Wealth Management LLC bought a new stake in Targa Resources during the fourth quarter worth $111,000. James Hambro & Partners purchased a new position in Targa Resources in the fourth quarter worth $111,000. Searle & CO. purchased a new position in Targa Resources in the fourth quarter worth $200,000. Quadrant Private Wealth Management LLC purchased a new position in Targa Resources in the fourth quarter worth $203,000. Finally, Guyasuta Investment Advisors Inc. purchased a new position in Targa Resources in the third quarter worth $206,000. Institutional investors and hedge funds own 90.10% of the company’s stock.
TRGP has been the topic of several research analyst reports. Goldman Sachs raised Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Thursday, February 1st. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Targa Resources in a research report on Tuesday, January 16th. TheStreet raised Targa Resources from a “d+” rating to a “c” rating in a research report on Monday, March 19th. Barclays raised Targa Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $50.00 to $58.00 in a research report on Wednesday, January 17th. Finally, Seaport Global Securities set a $52.00 price objective on Targa Resources and gave the stock a “buy” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Targa Resources has an average rating of “Hold” and an average price target of $54.76.
Shares of NYSE TRGP traded down $0.58 during trading on Monday, reaching $43.42. 2,590,443 shares of the stock traded hands, compared to its average volume of 2,124,105. Targa Resources Corp has a 52-week low of $39.59 and a 52-week high of $60.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.79 and a quick ratio of 0.66. The stock has a market capitalization of $9,628.53, a PE ratio of -100.98 and a beta of 1.98.
Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Targa Resources had a return on equity of 3.53% and a net margin of 0.61%. equities analysts expect that Targa Resources Corp will post -0.04 EPS for the current fiscal 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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