Investors are feeling more bullish on shares of Targa Resources, Inc. recently as inferred by the fall in short interest. The stock realized a fall in short interest from August 15, 2017 to August 31, 2017 of -12.39%. Short shares fell 812,205 over that period. The short-interest ratio decreased to 4.0 and the percentage of shorted shares is 0.03% as of August 31.
Here are a few substantial investment firms who have updated their positions. Point72 Asset Management, L.p. added to its holdings by buying 276,679 shares an increase of 28.8% as of 06/30/2017. Point72 Asset Management, L.p. now holds 1,238,179 shares valued at $55,966,000. The value of the position overall is down by 2.8%. As of quarter end Edge Asset Management, Inc had acquired 48,894 shares growing its position 6.1%. The value in dollars went from $44,864,000 to $50,857,000 a change of $5,993,000 quarter over quarter.
Janus Capital Management LLC bolstered its position by buying 659,400 shares an increase of 1,268.1% in the quarter. Janus Capital Management LLC now controls 711,400 shares with a value of $42,613,000. The total value of its holdings increased 1,361.4%. Arosa Capital Management Lp trimmed its investment by shedding 22,937 shares a decrease of 3.8% from 03/31/2017 to 06/30/2017. Arosa Capital Management Lp owns 575,274 shares worth $26,002,000. The total value of its holdings decreased 27.4%.
On July 18 the company was downgraded to “Outperform” from “Overweight” in a report issued by Barclays. On July 17 the stock rating was upgraded from “Market Perform” to “Outperform” in a report from Wells Fargo.
On July 12 the company was upgraded from “Hold” to “Buy” in a statement from Jefferies.
The company is now up by 0.91%% since yesterday’s close of 47.49. Targa Resources, Inc. declared a dividend for shareholders that was paid on Tuesday August 15th, 2017. The dividend payment was $0.910 per share for the quarter which comes to $3.64 on an annualized basis. The dividend yield was $7.76. The ex-dividend date was set for Friday the 28th of July 2017.
Company shares are trading at $47.92 which is just a bit higher than $44.90, the 50 day moving average and which is just under the 200 day moving average of $49.24. The 50 day moving average went up $3.02 or +6.73% and the 200 day average went down by -2.69%.
As of the last earnings report the EPS was $-1.82 and is estimated to be $-0.64 for the current year with 215,605,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.06 and the next full year EPS is projected to be $0.09.
Targa Resources Corp., launched on October 27, 2005, is a midstream energy company in North America. The Company provides midstream services. The Company owns, operates and develops a portfolio of midstream energy assets. The Business’s segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is involved 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 (LPG) exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products..