Bryn Mawr Capital Management LLC Takes $313,000 Position in Targa Resources, Inc. (NYSE:TRGP)

Bryn Mawr Capital Management LLC purchased a new stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,560 shares of the pipeline company's stock, valued at approximately $313,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Snowden Capital Advisors LLC increased its holdings in shares of Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock valued at $473,000 after acquiring an additional 53 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Targa Resources by 1.3% during the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock worth $991,000 after buying an additional 62 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in Targa Resources by 3.6% during the first quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company's stock worth $356,000 after buying an additional 62 shares in the last quarter. Curated Wealth Partners LLC raised its position in Targa Resources by 2.2% in the 1st quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock valued at $670,000 after buying an additional 73 shares during the last quarter. Finally, Baker Avenue Asset Management LP raised its position in Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock valued at $1,648,000 after buying an additional 74 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Performance

NYSE:TRGP traded up $4.76 during trading on Friday, reaching $171.24. The company's stock had a trading volume of 1,441,893 shares, compared to its average volume of 1,925,460. The firm has a market cap of $37.15 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a 50 day moving average of $167.35 and a 200-day moving average of $181.76. Targa Resources, Inc. has a 12 month low of $122.56 and a 12 month high of $218.51.

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 (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 the consensus estimate of $5.01 billion. Research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on TRGP shares. Citigroup lowered their price target on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Barclays boosted their price target on shares of Targa Resources from $178.00 to $195.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank restated an "outperform" rating on shares of Targa Resources in a report on Tuesday. Mizuho set a $212.00 price target on shares of Targa Resources and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, TD Cowen assumed coverage on shares of Targa Resources in a report on Monday, July 7th. They set a "hold" rating and a $192.00 price target on the stock. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Targa Resources presently has a consensus rating of "Buy" and a consensus target price of $209.86.

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.