2,300 Shares in Targa Resources, Inc. (NYSE:TRGP) Purchased by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,300 shares of the pipeline company's stock, valued at approximately $461,000.

A number of other large investors have also made changes to their positions in TRGP. Proficio Capital Partners LLC acquired a new position in shares of Targa Resources during the fourth quarter worth $231,000. 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 valued at $5,002,000 after buying an additional 6,589 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Targa Resources by 19.0% during the fourth quarter. Natixis Advisors LLC now owns 54,518 shares of the pipeline company's stock valued at $9,731,000 after buying an additional 8,700 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Targa Resources by 15.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,927 shares of the pipeline company's stock valued at $344,000 after buying an additional 251 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in shares of Targa Resources by 16.1% during the fourth quarter. Cibc World Markets Corp now owns 33,942 shares of the pipeline company's stock valued at $6,059,000 after buying an additional 4,709 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

Shares of Targa Resources stock traded up $4.76 during trading hours on Friday, reaching $171.24. The stock had a trading volume of 1,441,893 shares, compared to its average volume of 1,925,460. The stock's 50 day moving average is $167.35 and its 200 day moving average is $181.76. The firm has a market capitalization of $37.15 billion, a PE ratio of 31.54, a PEG ratio of 0.59 and a beta of 1.07. 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.

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). The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. Equities analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, July 31st. This is an increase from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's dividend payout ratio is 73.66%.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $205.00 price objective on shares of Targa Resources in a report on Tuesday. Citigroup dropped their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Mizuho set a $212.00 price objective on shares of Targa Resources and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.