Private Advisory Group LLC Has $1.99 Million Stock Holdings in Targa Resources, Inc. (NYSE:TRGP)

Private Advisory Group LLC trimmed its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 9,920 shares of the pipeline company’s stock after selling 996 shares during the quarter. Private Advisory Group LLC’s holdings in Targa Resources were worth $1,989,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Natixis Advisors LLC raised its stake in Targa Resources by 11.7% in the first quarter. Natixis Advisors LLC now owns 60,871 shares of the pipeline company’s stock valued at $12,203,000 after purchasing an additional 6,353 shares in the last quarter. NorthRock Partners LLC acquired a new position in shares of Targa Resources in the 1st quarter valued at approximately $221,000. Arkadios Wealth Advisors bought a new stake in shares of Targa Resources during the 1st quarter worth approximately $221,000. Vestcor Inc boosted its position in shares of Targa Resources by 80.9% during the 1st quarter. Vestcor Inc now owns 19,020 shares of the pipeline company’s stock worth $3,813,000 after acquiring an additional 8,507 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Targa Resources by 319.4% in the first quarter. XTX Topco Ltd now owns 6,987 shares of the pipeline company’s stock valued at $1,401,000 after acquiring an additional 5,321 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

Shares of TRGP opened at $167.57 on Thursday. The business has a 50-day moving average of $167.64 and a 200-day moving average of $180.52. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. Targa Resources, Inc. has a 1 year low of $122.56 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. As a group, equities research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, July 31st. This is an increase from Targa Resources’s previous quarterly dividend of $0.12. Targa Resources’s dividend payout ratio (DPR) is currently 73.66%.

Analysts Set New Price Targets

TRGP has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $205.00 target price on shares of Targa Resources in a research note on Tuesday, July 15th. TD Cowen began coverage on Targa Resources in a research note on Monday, July 7th. They issued a “hold” rating and a $192.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Targa Resources from $218.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Mizuho set a $212.00 price target on shares of Targa Resources and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Finally, UBS Group lowered their price objective on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $209.86.

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.