Cavalier Investments LLC Invests $1.24 Million in Targa Resources, Inc. (NYSE:TRGP)

Cavalier Investments LLC purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,189 shares of the pipeline company's stock, valued at approximately $1,241,000.

Several other large investors have also modified their holdings of TRGP. Norges Bank acquired a new stake in Targa Resources in the 4th quarter worth approximately $505,132,000. GQG Partners LLC purchased a new stake in Targa Resources in the fourth quarter valued at $393,335,000. Canada Pension Plan Investment Board grew its holdings in Targa Resources by 981.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after acquiring an additional 1,038,350 shares during the period. GAMMA Investing LLC increased its holdings in shares of Targa Resources by 22,699.0% during the 1st quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock valued at $186,112,000 after purchasing an additional 924,305 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Targa Resources in the fourth quarter valued at $150,372,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Up 3.1%

Shares of TRGP stock opened at $175.84 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. Targa Resources, Inc. has a fifty-two week low of $122.56 and a fifty-two week high of $218.51. The firm's 50 day moving average price is $166.29 and its two-hundred day moving average price is $182.61. The stock has a market cap of $38.14 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results 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). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. On average, analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TRGP shares. Citigroup lowered their price objective on 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 Targa Resources and gave the company an "outperform" rating in a report on Tuesday, May 20th. Scotiabank increased their price target on Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a report on Thursday, June 5th. Barclays cut their price objective on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a research report on Tuesday, May 20th. Finally, The Goldman Sachs Group reduced their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Thirteen investment 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 company presently has an average rating of "Buy" and a consensus price target of $204.69.

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.

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