Targa Resources, Inc. (NYSE:TRGP) Shares Acquired by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,214 shares of the pipeline company's stock after purchasing an additional 13,570 shares during the quarter. Targa Resources makes up about 0.7% of Catalyst Capital Advisors LLC's portfolio, making the stock its 28th biggest position. Catalyst Capital Advisors LLC owned approximately 0.08% of Targa Resources worth $32,720,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRGP. IFP Advisors Inc raised its position in shares of Targa Resources by 78.8% in the 4th quarter. IFP Advisors Inc now owns 524 shares of the pipeline company's stock worth $94,000 after acquiring an additional 231 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth about $303,000. Fisher Asset Management LLC lifted its stake in shares of Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after purchasing an additional 67 shares during the period. US Bancorp DE boosted its stake in shares of Targa Resources by 8.1% during the 4th quarter. US Bancorp DE now owns 25,975 shares of the pipeline company's stock worth $4,637,000 after acquiring an additional 1,938 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Targa Resources by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,545 shares of the pipeline company's stock worth $276,000 after buying an additional 264 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on TRGP shares. Mizuho set a $212.00 target price on Targa Resources and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Truist Financial raised their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. The Goldman Sachs Group cut their price target on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Citigroup decreased their price objective 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. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $205.00 target price (up from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Twelve research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $209.67.

Targa Resources Stock Performance

Shares of Targa Resources stock traded down $0.26 during trading on Friday, reaching $173.52. The company's stock had a trading volume of 760,692 shares, compared to its average volume of 1,835,929. The company has a 50-day moving average price of $166.46 and a two-hundred day moving average price of $182.21. Targa Resources, Inc. has a fifty-two week low of $122.56 and a fifty-two week high of $218.51. The firm has a market cap of $37.64 billion, a PE ratio of 31.96, a P/E/G ratio of 0.62 and a beta of 1.07. 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 results 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 return on equity of 30.48% and a net margin of 7.35%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. On average, analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $1.00 dividend. This represents a dividend 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.