Targa Resources, Inc. $TRGP Holdings Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Targa Resources, Inc. (NYSE:TRGP) by 8.0% in the second quarter, Holdings Channel reports. The institutional investor owned 73,682 shares of the pipeline company’s stock after acquiring an additional 5,456 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Targa Resources were worth $12,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stratos Wealth Advisors LLC lifted its stake in shares of Targa Resources by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock valued at $356,000 after purchasing an additional 62 shares during the last quarter. UMB Bank n.a. raised its holdings in Targa Resources by 11.9% in the 2nd quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock worth $115,000 after acquiring an additional 70 shares during the period. QRG Capital Management Inc. raised its holdings in Targa Resources by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock worth $1,618,000 after acquiring an additional 72 shares during the period. D.A. Davidson & CO. raised its holdings in Targa Resources by 1.8% in the 1st quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company’s stock worth $855,000 after acquiring an additional 74 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Targa Resources by 6.1% in the 1st quarter. Proficio Capital Partners LLC now owns 1,373 shares of the pipeline company’s stock worth $275,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TRGP shares. Royal Bank Of Canada lifted their target price on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. BMO Capital Markets assumed coverage on shares of Targa Resources in a report on Friday, September 19th. They issued an “outperform” rating and a $185.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and set a $205.00 price objective (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Finally, Cfra Research upgraded shares of Targa Resources to a “hold” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Targa Resources Stock Down 2.0%

Shares of TRGP opened at $153.73 on Friday. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 0.98 and a beta of 1.12. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a 50-day moving average price of $162.29 and a two-hundred day moving average price of $165.55.

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

Targa Resources Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Targa Resources’s dividend payout ratio (DPR) is presently 56.58%.

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.