Targa Resources, Inc. $TRGP Shares Bought by Advisory Alpha LLC

Advisory Alpha LLC boosted its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,737 shares of the pipeline company’s stock after acquiring an additional 172 shares during the quarter. Advisory Alpha LLC’s holdings in Targa Resources were worth $651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its stake in shares of Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock worth $724,560,000 after buying an additional 1,410,747 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Targa Resources in the first quarter worth about $196,351,000. Wellington Management Group LLP boosted its stake in shares of Targa Resources by 7.5% in the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock worth $2,764,673,000 after buying an additional 962,631 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Targa Resources by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,748,708 shares of the pipeline company’s stock worth $551,033,000 after buying an additional 834,666 shares during the last quarter. Finally, Amundi boosted its stake in shares of Targa Resources by 33.8% in the first quarter. Amundi now owns 2,463,271 shares of the pipeline company’s stock worth $493,812,000 after buying an additional 622,096 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $152.56 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $218.51. The business has a 50-day moving average price of $161.98 and a 200 day moving average price of $165.29. The firm has a market cap of $32.83 billion, a PE ratio of 21.58, a P/E/G ratio of 0.98 and a beta of 1.12.

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

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. Targa Resources’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded Targa Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. TD Securities initiated coverage on Targa Resources in a research note on Monday, July 7th. They issued a “hold” rating for the company. Finally, Scotiabank restated an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.50.

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.