Counterpoint Mutual Funds LLC Makes New $409,000 Investment in Targa Resources, Inc. $TRGP

Key Points

• Counterpoint Mutual Funds LLC has made a new investment in Targa Resources, Inc. by purchasing 2,347 shares valued at approximately $409,000.
• Targa Resources recently announced a quarterly dividend increase to $1.00 per share, up from $0.12, translating to a 2.4% dividend yield.
• Analysts have given Targa Resources an average rating of "Moderate Buy" with a target price of $207.27, reflecting positive sentiment towards the stock's performance.

Counterpoint Mutual Funds LLC purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,347 shares of the pipeline company's stock, valued at approximately $409,000.

Other large investors have also recently made changes to their positions in the company. Waverly Advisors LLC purchased a new stake in Targa Resources in the fourth quarter worth approximately $278,000. Ameriflex Group Inc. purchased a new stake in Targa Resources during the 4th quarter valued at $31,000. Employees Retirement System of Texas bought a new position in shares of Targa Resources during the 4th quarter valued at $2,038,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Targa Resources in the 4th quarter worth $29,768,000. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of Targa Resources by 547.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 14,899 shares of the pipeline company's stock worth $2,659,000 after buying an additional 12,598 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Price Performance

NYSE TRGP opened at $170.03 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12 month low of $144.30 and a 12 month high of $218.51. The stock has a market cap of $36.59 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.98 and a beta of 1.21. The company's 50 day moving average is $165.05 and its two-hundred day moving average is $170.23.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The firm had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $4.82 billion. As a group, research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $1.00 dividend. The ex-dividend date was Thursday, July 31st. This is a positive change from Targa Resources's previous quarterly dividend of $0.12. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. Targa Resources's dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analyst Weigh In

TRGP has been the topic of a number of recent research reports. Wells Fargo & Company reissued an "overweight" rating and issued a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Targa Resources from $189.00 to $209.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada boosted their target price on shares of Targa Resources from $205.00 to $208.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Wall Street Zen raised shares of Targa Resources from a "hold" rating to a "buy" rating in a report on Sunday. Finally, TD Securities began coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.27.

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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