9,970 Shares in Targa Resources, Inc. (NYSE:TRGP) Purchased by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC purchased a new stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,970 shares of the pipeline company's stock, valued at approximately $1,999,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new position in Targa Resources in the first quarter valued at about $544,000. SBI Securities Co. Ltd. acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $88,000. Commonwealth Equity Services LLC increased its stake in shares of Targa Resources by 30.7% in the fourth 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. West Michigan Advisors LLC acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $579,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Targa Resources in the fourth quarter valued at approximately $338,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TRGP. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. UBS Group lowered their price objective on Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Barclays lowered their price objective 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. Scotiabank upped their price objective on Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research note on Thursday, June 5th. Finally, Morgan Stanley increased their target price on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $199.07.

Targa Resources Stock Up 1.9%

NYSE TRGP traded up $3.14 during mid-day trading on Tuesday, hitting $167.87. The company's stock had a trading volume of 2,041,434 shares, compared to its average volume of 1,836,527. The company's 50 day simple moving average is $166.31 and its 200 day simple moving average is $182.87. 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 firm has a market capitalization of $36.42 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 0.58 and a beta of 1.07.

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 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 for the quarter, compared to the consensus estimate of $5.01 billion. Analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

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

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.