Board of the Pension Protection Fund Buys 2,000 Shares of Targa Resources, Inc. (NYSE:TRGP)

Board of the Pension Protection Fund lifted its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 95.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,100 shares of the pipeline company's stock after buying an additional 2,000 shares during the quarter. Board of the Pension Protection Fund's holdings in Targa Resources were worth $822,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC purchased a new position in Targa Resources during the first quarter worth about $544,000. SBI Securities Co. Ltd. bought a new stake in shares of Targa Resources during the 4th quarter valued at about $88,000. Commonwealth Equity Services LLC grew its holdings in shares of Targa Resources by 30.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock worth $5,002,000 after purchasing an additional 6,589 shares in the last quarter. West Michigan Advisors LLC bought a new position in shares of Targa Resources in the fourth quarter worth approximately $579,000. Finally, Aptus Capital Advisors LLC purchased a new stake in Targa Resources in the fourth quarter valued at approximately $338,000. 92.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on TRGP shares. UBS Group cut their price target on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Mizuho set a $212.00 target price on shares of Targa Resources and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $205.00 target price (up previously from $191.00) on shares of Targa Resources in a research note on Thursday. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Barclays dropped their price target on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $204.69.

Targa Resources Trading Up 3.1%

NYSE TRGP opened at $175.84 on Friday. The firm has a market cap of $38.14 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.07. Targa Resources, Inc. has a 1-year low of $122.56 and a 1-year high of $218.51. The stock has a 50-day moving average of $166.29 and a 200-day moving average of $182.61. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.01 billion. As a group, sell-side analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

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

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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