Targa Resources, Inc. (NYSE:TRGP) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,916 shares of the pipeline company's stock after purchasing an additional 2,417 shares during the quarter. Apollon Wealth Management LLC's holdings in Targa Resources were worth $4,794,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. raised its holdings in shares of Targa Resources by 20.4% during the first quarter. Edgestream Partners L.P. now owns 69,674 shares of the pipeline company's stock valued at $13,968,000 after acquiring an additional 11,809 shares during the last quarter. Florida Financial Advisors LLC acquired a new position in shares of Targa Resources during the first quarter valued at approximately $278,000. Bleakley Financial Group LLC raised its holdings in shares of Targa Resources by 8.5% during the first quarter. Bleakley Financial Group LLC now owns 13,029 shares of the pipeline company's stock valued at $2,612,000 after acquiring an additional 1,021 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Targa Resources by 60.0% during the first quarter. LRI Investments LLC now owns 640 shares of the pipeline company's stock valued at $128,000 after acquiring an additional 240 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Targa Resources by 24.2% during the first quarter. CWM LLC now owns 8,455 shares of the pipeline company's stock valued at $1,695,000 after acquiring an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Trading Up 2.9%

NYSE:TRGP traded up $4.81 on Friday, reaching $171.29. The company's stock had a trading volume of 803,546 shares, compared to its average volume of 1,841,258. Targa Resources, Inc. has a 12-month low of $122.56 and a 12-month high of $218.51. 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 cap of $37.16 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The stock has a 50 day moving average price of $167.35 and a 200 day moving average price of $181.76.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS 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 business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. On average, equities analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $1.00 dividend. The ex-dividend date is Thursday, July 31st. This is a boost from Targa Resources's previous quarterly dividend of $0.12. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.34%. Targa Resources's payout ratio is presently 73.66%.

Wall Street Analyst Weigh In

TRGP has been the subject of several recent research reports. TD Cowen initiated coverage on Targa Resources in a report on Monday, July 7th. They issued a "hold" rating and a $192.00 price target for the company. Mizuho set a $212.00 price target on Targa Resources and gave the company an "outperform" rating in a report on Tuesday, May 20th. Barclays increased their price target on Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group cut their price target on Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price target on Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Targa Resources presently has an average rating of "Buy" and an average target price of $209.86.

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.