Capital Investment Advisors LLC Has $2.78 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Capital Investment Advisors LLC increased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 67.5% during the first quarter, Holdings Channel reports. The fund owned 13,852 shares of the pipeline company’s stock after purchasing an additional 5,584 shares during the period. Capital Investment Advisors LLC’s holdings in Targa Resources were worth $2,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Snowden Capital Advisors LLC lifted its stake in shares of Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock valued at $473,000 after acquiring an additional 53 shares during the period. Fisher Asset Management LLC lifted its position in Targa Resources by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 67 shares during the period. Keybank National Association OH lifted its position in Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company’s stock valued at $1,648,000 after purchasing an additional 74 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Targa Resources by 16.5% during the 4th quarter. Huntington National Bank now owns 557 shares of the pipeline company’s stock worth $99,000 after buying an additional 79 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Wells Fargo & Company increased their price target on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. UBS Group decreased their price objective on Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Mizuho set a $212.00 price objective on Targa Resources and gave the company an “outperform” rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group decreased their target price on Targa Resources from $218.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $199.07.

Targa Resources Stock Up 1.8%

Shares of TRGP stock opened at $167.14 on Monday. Targa Resources Corp. has a 12-month low of $117.88 and a 12-month high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a fifty day moving average of $166.57 and a 200-day moving average of $185.26. The company has a market capitalization of $36.26 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 0.61 and a beta of 1.07.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($1.13). The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. As a group, equities research analysts predict that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $1.00 dividend. This represents a yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources’s payout ratio is 73.66%.

Targa Resources 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.