Clarus Wealth Advisors Acquires New Holdings in Targa Resources, Inc. $TRGP

Clarus Wealth Advisors acquired a new stake in Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,510 shares of the pipeline company’s stock, valued at approximately $263,000.

A number of other large investors have also recently added to or reduced their stakes in TRGP. Snowden Capital Advisors LLC raised its holdings in Targa Resources by 2.0% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock valued at $473,000 after buying an additional 53 shares during the period. Ritholtz Wealth Management raised its holdings in Targa Resources by 1.3% in the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company’s stock valued at $991,000 after buying an additional 62 shares during the period. Stratos Wealth Advisors LLC raised its holdings in Targa Resources by 3.6% in the first quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock valued at $356,000 after buying an additional 62 shares during the period. Curated Wealth Partners LLC raised its holdings in Targa Resources by 2.2% in the first quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company’s stock valued at $670,000 after buying an additional 73 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Targa Resources by 1.8% during the first quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company’s stock valued at $855,000 after purchasing an additional 74 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Down 1.8%

TRGP stock opened at $163.31 on Tuesday. Targa Resources, Inc. has a twelve month low of $144.30 and a twelve month high of $218.51. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $35.14 billion, a P/E ratio of 23.10, a PEG ratio of 1.02 and a beta of 1.21. The firm has a 50 day simple moving average of $165.67 and a 200-day simple moving average of $170.98.

Targa Resources (NYSE:TRGP) last released its 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 net margin of 8.99% and a return on equity of 43.35%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.82 billion. On average, equities research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, July 31st. This is a positive change from Targa Resources’s previous quarterly dividend of $0.12. This represents a $4.00 annualized dividend and a yield of 2.4%. Targa Resources’s payout ratio is presently 56.58%.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of analyst reports. TD Securities initiated coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a “hold” rating on the stock. Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada lifted their price objective on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Targa Resources from $189.00 to $209.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Cfra Research raised shares of Targa Resources to a “hold” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.86.

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.