Blair William & Co. IL Buys 44,993 Shares of Targa Resources, Inc. (NYSE:TRGP)

Blair William & Co. IL boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 231.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,409 shares of the pipeline company's stock after buying an additional 44,993 shares during the quarter. Blair William & Co. IL's holdings in Targa Resources were worth $12,912,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Manchester Capital Management LLC raised its holdings in shares of Targa Resources by 11.3% in the 1st quarter. Manchester Capital Management LLC now owns 1,689 shares of the pipeline company's stock valued at $339,000 after purchasing an additional 171 shares in the last quarter. SCP Investment LP raised its holdings in shares of Targa Resources by 210.3% in the 1st quarter. SCP Investment LP now owns 8,688 shares of the pipeline company's stock valued at $1,742,000 after purchasing an additional 5,888 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Targa Resources by 57.2% in the 1st quarter. Bank of Nova Scotia now owns 101,105 shares of the pipeline company's stock valued at $20,269,000 after purchasing an additional 36,808 shares in the last quarter. R Squared Ltd raised its holdings in shares of Targa Resources by 6.1% in the 1st quarter. R Squared Ltd now owns 1,910 shares of the pipeline company's stock valued at $383,000 after purchasing an additional 110 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Targa Resources by 8.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,685 shares of the pipeline company's stock valued at $4,347,000 after purchasing an additional 1,668 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Securities assumed coverage on shares of Targa Resources in a report on Monday, July 7th. They issued a "hold" rating for the company. Mizuho set a $212.00 price target on shares of Targa Resources and gave the company an "outperform" rating in a report on Tuesday, May 20th. Barclays boosted their price target on shares of Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Scotiabank reiterated an "outperform" rating on shares of Targa Resources in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two equities 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. According to data from MarketBeat.com, Targa Resources has an average rating of "Buy" and an average price target of $209.86.

Targa Resources Stock Up 1.0%

NYSE:TRGP opened at $164.60 on Tuesday. The company has a market cap of $35.71 billion, a PE ratio of 30.31, a P/E/G ratio of 1.06 and a beta of 1.12. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. The company's 50 day moving average is $167.92 and its two-hundred day moving average is $179.28.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $1.00 dividend. This is an increase from Targa Resources's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. Targa Resources's payout ratio is currently 73.66%.

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.

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