Chilton Capital Management LLC Has $560,000 Stake in Targa Resources, Inc. (NYSE:TRGP)

Chilton Capital Management LLC boosted its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 240.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp boosted its position in Targa Resources by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,545 shares of the pipeline company's stock valued at $276,000 after acquiring an additional 264 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Targa Resources during the fourth quarter valued at $88,000. Assetmark Inc. boosted its position in Targa Resources by 1,812.5% during the fourth quarter. Assetmark Inc. now owns 306 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 290 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Targa Resources during the fourth quarter valued at $231,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Targa Resources during the fourth quarter valued at $71,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRGP has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $205.00 price target (up previously from $191.00) on shares of Targa Resources in a research report on Thursday, June 26th. The Goldman Sachs Group cut 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 report on Monday, May 5th. Citigroup cut their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Scotiabank increased their price objective on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley increased their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Twelve analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Targa Resources currently has an average rating of "Buy" and an average price target of $209.67.

Targa Resources Price Performance

TRGP stock opened at $173.52 on Monday. Targa Resources, Inc. has a 1 year low of $122.56 and a 1 year high of $218.51. The stock has a market capitalization of $37.64 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 0.62 and a beta of 1.07. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The company's 50-day moving average is $166.38 and its 200-day moving average is $182.30.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. Equities research analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $1.00 per share. 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 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.

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