Fox Run Management L.L.C. Invests $1.73 Million in Targa Resources, Inc. $TRGP

Fox Run Management L.L.C. purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,930 shares of the pipeline company’s stock, valued at approximately $1,729,000.

A number of other institutional investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC lifted its holdings in Targa Resources by 578.9% in the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock worth $26,000 after buying an additional 110 shares during the period. Disciplina Capital Management LLC bought a new position in shares of Targa Resources in the 1st quarter worth approximately $46,000. Hilltop National Bank purchased a new position in shares of Targa Resources in the 2nd quarter valued at approximately $63,000. Private Trust Co. NA lifted its stake in shares of Targa Resources by 57.1% in the 2nd quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 173 shares during the period. Finally, Wolff Wiese Magana LLC boosted its position in shares of Targa Resources by 61.0% during the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 183 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TRGP shares. Wall Street Zen downgraded Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday. BMO Capital Markets increased their price target on shares of Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank Of Canada boosted their price objective on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Scotiabank restated an “outperform” rating on shares of Targa Resources in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $171.81 on Friday. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51. The firm’s 50-day moving average is $161.19 and its 200 day moving average is $164.76. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 0.91 and a beta of 1.16. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56.

Targa Resources (NYSE:TRGP) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. Sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, October 31st. Targa Resources’s payout ratio is presently 56.58%.

About Targa Resources

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.