1,924 Shares in Targa Resources Corp. (NYSE:TRGP) Acquired by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC purchased a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,924 shares of the pipeline company's stock, valued at approximately $386,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Americana Partners LLC raised its holdings in shares of Targa Resources by 554.6% during the fourth quarter. Americana Partners LLC now owns 73,136 shares of the pipeline company's stock worth $13,055,000 after purchasing an additional 61,964 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Targa Resources by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company's stock valued at $14,152,000 after buying an additional 2,087 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Targa Resources during the 4th quarter valued at about $88,000. Commonwealth Equity Services LLC lifted its holdings in shares of Targa Resources by 30.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock valued at $5,002,000 after buying an additional 6,589 shares during the period. Finally, West Michigan Advisors LLC acquired a new position in shares of Targa Resources in the 4th quarter valued at about $579,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Up 3.3%

TRGP stock opened at $174.80 on Monday. Targa Resources Corp. has a 52 week low of $119.00 and a 52 week 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 50-day simple moving average of $165.95 and a 200-day simple moving average of $184.05. The stock has a market capitalization of $37.92 billion, a P/E ratio of 30.45, a P/E/G ratio of 0.61 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 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 analysts' expectations of $5.01 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 15th. Investors 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 dividend payout ratio is currently 73.66%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRGP shares. Morgan Stanley raised their target price on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Truist Financial raised their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Wells Fargo & Company lifted their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Mizuho set a $212.00 price target on shares of Targa Resources and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, Citigroup dropped their price target on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $199.07.

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.

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