Advisor Resource Council Invests $2.36 Million in Targa Resources, Inc. (NYSE:TRGP)

Advisor Resource Council bought a new stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,774 shares of the pipeline company's stock, valued at approximately $2,360,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Targa Resources by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock valued at $4,848,169,000 after buying an additional 150,038 shares during the last quarter. Geode Capital Management LLC lifted its position in Targa Resources by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock valued at $1,056,187,000 after purchasing an additional 212,986 shares during the last quarter. Norges Bank purchased a new stake in shares of Targa Resources during the fourth quarter valued at approximately $505,132,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Targa Resources by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company's stock worth $492,022,000 after purchasing an additional 53,853 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in Targa Resources during the 4th quarter valued at $393,335,000. 92.13% of the stock is owned by institutional investors.

Targa Resources Stock Performance

TRGP traded up $3.14 during midday trading on Tuesday, hitting $167.87. 2,041,434 shares of the company traded hands, compared to its average volume of 1,834,947. The company's 50-day moving average is $166.31 and its 200 day moving average is $182.87. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. The firm has a market capitalization of $36.42 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 0.60 and a beta of 1.07. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. On average, research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $1.00 dividend. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, April 30th. Targa Resources's payout ratio is currently 73.66%.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Targa Resources from $199.00 to $191.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. UBS Group cut their price objective on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Barclays decreased their price objective on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a report on Tuesday, May 20th. Mizuho set a $212.00 price target on Targa Resources and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, Scotiabank increased their price target on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research note on Thursday, June 5th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Targa Resources currently has a consensus rating of "Buy" and an average price target of $199.07.

About Targa Resources

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.