Chilton Capital Management LLC Grows Stake in Targa Resources, Inc. (NYSE:TRGP)

Chilton Capital Management LLC lifted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 240.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,796 shares of the pipeline company's stock after purchasing an additional 1,974 shares during the period. Chilton Capital Management LLC's holdings in Targa Resources were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRGP. Colonial Trust Co SC boosted its holdings in shares of Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after acquiring an additional 162 shares during the period. Atala Financial Inc purchased a new position in Targa Resources during the fourth quarter valued at approximately $31,000. Cary Street Partners Financial LLC bought a new stake in Targa Resources during the 4th quarter worth approximately $31,000. Ameriflex Group Inc. purchased a new stake in Targa Resources in the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Targa Resources in the 4th quarter worth approximately $32,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Truist Financial increased their price target on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. The Goldman Sachs Group cut their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Scotiabank raised their price target on Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $208.31.

Targa Resources Trading Down 0.5%

TRGP stock traded down $0.87 during midday trading on Monday, reaching $172.65. The company's stock had a trading volume of 1,368,677 shares, compared to its average volume of 1,838,127. Targa Resources, Inc. has a 1 year low of $122.56 and a 1 year high of $218.51. The firm has a market capitalization of $37.45 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 0.62 and a beta of 1.07. The stock has a fifty day simple moving average of $166.38 and a two-hundred day simple moving average of $182.30. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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). The company had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. On average, equities research analysts predict that Targa Resources, Inc. 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. Stockholders of record on Thursday, May 1st were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's dividend payout ratio is currently 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.