MGO One Seven LLC Has $372,000 Stake in Targa Resources, Inc. $TRGP

MGO One Seven LLC trimmed its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,136 shares of the pipeline company’s stock after selling 79 shares during the period. MGO One Seven LLC’s holdings in Targa Resources were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management increased its holdings in Targa Resources by 6.5% during the second quarter. OFI Invest Asset Management now owns 243,628 shares of the pipeline company’s stock worth $42,411,000 after buying an additional 14,883 shares during the last quarter. Aberdeen Group plc increased its holdings in Targa Resources by 17.6% during the second quarter. Aberdeen Group plc now owns 175,571 shares of the pipeline company’s stock worth $30,563,000 after buying an additional 26,318 shares during the last quarter. Callan Family Office LLC increased its holdings in Targa Resources by 146.7% during the second quarter. Callan Family Office LLC now owns 5,519 shares of the pipeline company’s stock worth $961,000 after buying an additional 3,282 shares during the last quarter. US Bancorp DE increased its holdings in Targa Resources by 2.5% during the second quarter. US Bancorp DE now owns 27,699 shares of the pipeline company’s stock worth $4,822,000 after buying an additional 681 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Targa Resources by 30.9% during the second quarter. Vontobel Holding Ltd. now owns 4,918 shares of the pipeline company’s stock worth $856,000 after buying an additional 1,160 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Targa Resources in a report on Monday, July 7th. They set a “hold” rating and a $192.00 target price on the stock. Royal Bank Of Canada upped their price objective on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Targa Resources in a report on Wednesday, October 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price objective (up from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Finally, Mizuho decreased their price objective on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Targa Resources Trading Up 1.5%

Shares of Targa Resources stock opened at $148.51 on Friday. The firm has a 50-day moving average of $163.54 and a 200-day moving average of $165.96. The stock has a market cap of $31.96 billion, a PE ratio of 21.01, a PEG ratio of 0.89 and a beta of 1.12. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, sell-side analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is presently 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.