Mutual of America Capital Management LLC Sells 480 Shares of Targa Resources, Inc. $TRGP

Mutual of America Capital Management LLC trimmed its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,875 shares of the pipeline company’s stock after selling 480 shares during the period. Mutual of America Capital Management LLC’s holdings in Targa Resources were worth $4,330,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Targa Resources by 13.7% during the 1st quarter. GAMMA Investing LLC now owns 4,631 shares of the pipeline company’s stock worth $928,000 after purchasing an additional 559 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Targa Resources by 5.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,038 shares of the pipeline company’s stock worth $408,000 after acquiring an additional 111 shares in the last quarter. XML Financial LLC bought a new position in Targa Resources in the first quarter worth approximately $200,000. Oppenheimer & Co. Inc. boosted its holdings in Targa Resources by 48.1% in the first quarter. Oppenheimer & Co. Inc. now owns 2,535 shares of the pipeline company’s stock worth $508,000 after acquiring an additional 823 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Targa Resources by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 82,982 shares of the pipeline company’s stock worth $16,635,000 after acquiring an additional 3,188 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRGP. 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. BMO Capital Markets started coverage on shares of Targa Resources in a research note on Friday, September 19th. They issued an “outperform” rating and a $185.00 price objective on the stock. Cfra Research raised shares of Targa Resources to a “hold” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. One investment 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 company’s stock. According to MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Trading Up 2.0%

NYSE TRGP opened at $154.47 on Thursday. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 0.91 and a beta of 1.12. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $218.51. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The business’s fifty day moving average is $162.66 and its 200-day moving average is $165.61.

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

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a $1.00 dividend. The ex-dividend date is Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. 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.