Signaturefd LLC Has $1.32 Million Stock Position in Targa Resources, Inc. $TRGP

Signaturefd LLC trimmed its position in Targa Resources, Inc. (NYSE:TRGP) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,562 shares of the pipeline company’s stock after selling 413 shares during the quarter. Signaturefd LLC’s holdings in Targa Resources were worth $1,316,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TRGP. Cornerstone Planning Group LLC lifted its position in shares of Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Disciplina Capital Management LLC acquired a new stake in Targa Resources during the 1st quarter valued at $46,000. Olde Wealth Management LLC purchased a new position in shares of Targa Resources during the first quarter valued at $52,000. ST Germain D J Co. Inc. purchased a new position in shares of Targa Resources during the first quarter valued at $60,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Targa Resources by 376.2% during the first quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock valued at $60,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TRGP shares. JPMorgan Chase & Co. raised their price objective on Targa Resources from $189.00 to $209.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada raised their price target on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. BMO Capital Markets began coverage on shares of Targa Resources in a report on Friday, September 19th. They set an “outperform” rating and a $185.00 price target for the company. TD Securities began coverage on shares of Targa Resources in a research note on Monday, July 7th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price objective (up previously from $198.00) on shares of Targa Resources in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.27.

Targa Resources Trading Up 1.5%

NYSE:TRGP opened at $174.36 on Monday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The company has a market capitalization of $37.52 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.03 and a beta of 1.21. Targa Resources, Inc. has a 52 week low of $144.30 and a 52 week high of $218.51. The stock’s 50 day moving average price is $165.34 and its 200 day moving average price is $169.96.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, topping the consensus estimate of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.82 billion. On average, research analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.12. Targa Resources’s payout ratio is currently 56.58%.

Targa Resources Company Profile

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.