Capital Investment Advisors LLC Has $2.78 Million Position in Targa Resources Corp. (NYSE:TRGP)

Capital Investment Advisors LLC grew its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 67.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,852 shares of the pipeline company's stock after purchasing an additional 5,584 shares during the period. Capital Investment Advisors LLC's holdings in Targa Resources were worth $2,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC acquired a new stake in shares of Targa Resources during the fourth quarter worth approximately $221,000. Stratos Wealth Advisors LLC boosted its stake in shares of Targa Resources by 7.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 1,714 shares of the pipeline company's stock valued at $306,000 after buying an additional 113 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Targa Resources by 2.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,357 shares of the pipeline company's stock valued at $4,169,000 after acquiring an additional 535 shares in the last quarter. Conning Inc. purchased a new position in shares of Targa Resources during the 4th quarter valued at $217,000. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Targa Resources by 134.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,297 shares of the pipeline company's stock worth $410,000 after acquiring an additional 1,319 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 5th. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. 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 note on Friday, May 9th. Scotiabank increased their price objective on Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has a consensus rating of "Buy" and a consensus price target of $199.07.

Targa Resources Stock Performance

NYSE:TRGP opened at $167.14 on Monday. The firm has a market capitalization of $36.26 billion, a PE ratio of 29.12, a PEG ratio of 0.61 and a beta of 1.07. Targa Resources Corp. has a 1 year low of $117.88 and a 1 year high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm's fifty day simple moving average is $166.57 and its 200 day simple moving average is $185.26.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. On average, sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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