MGO One Seven LLC Sells 79 Shares of Targa Resources, Inc. $TRGP

MGO One Seven LLC decreased its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 3.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,136 shares of the pipeline company’s stock after selling 79 shares during the quarter. MGO One Seven LLC’s holdings in Targa Resources were worth $372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Targa Resources by 578.9% during the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 110 shares during the period. Disciplina Capital Management LLC bought a new stake in Targa Resources during the first quarter worth about $46,000. Olde Wealth Management LLC bought a new stake in Targa Resources during the first quarter worth about $52,000. Wolff Wiese Magana LLC lifted its position in Targa Resources by 376.2% during the first quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company’s stock worth $60,000 after purchasing an additional 237 shares during the period. Finally, Hilltop National Bank bought a new stake in Targa Resources during the second quarter worth about $63,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Targa Resources stock opened at $148.51 on Friday. The business has a 50 day moving average of $163.54 and a 200-day moving average of $165.96. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 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 company has a market capitalization of $31.96 billion, a P/E ratio of 21.01, a P/E/G ratio of 0.89 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.92. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.82 billion. On average, equities research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Targa Resources’s dividend payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRGP shares. BMO Capital Markets began coverage on shares of Targa Resources in a research report on Friday, September 19th. They set an “outperform” rating and a $185.00 price objective for the company. TD Cowen began coverage on Targa Resources in a research note on Monday, July 7th. They set a “hold” rating and a $192.00 target price for the company. TD Securities began coverage on Targa Resources in a research note on Monday, July 7th. They set a “hold” rating for the company. Mizuho lowered their target price on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Targa Resources in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.50.

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.