Czech National Bank Purchases 2,940 Shares of Targa Resources, Inc. $TRGP

Czech National Bank boosted its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,025 shares of the pipeline company's stock after acquiring an additional 2,940 shares during the period. Czech National Bank's holdings in Targa Resources were worth $9,231,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TRGP. Snowden Capital Advisors LLC raised its stake in shares of Targa Resources by 2.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock worth $473,000 after acquiring an additional 53 shares in the last quarter. Ritholtz Wealth Management boosted its position in Targa Resources by 1.3% during the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock valued at $991,000 after buying an additional 62 shares during the period. Stratos Wealth Advisors LLC boosted its position in Targa Resources by 3.6% during the first quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company's stock valued at $356,000 after buying an additional 62 shares during the period. Curated Wealth Partners LLC boosted its position in Targa Resources by 2.2% during the first quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock valued at $670,000 after buying an additional 73 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Targa Resources by 1.8% in the 1st quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company's stock valued at $855,000 after acquiring an additional 74 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Up 2.0%

TRGP opened at $166.28 on Thursday. 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 1-year low of $144.30 and a 1-year high of $218.51. The company has a market capitalization of $35.78 billion, a PE ratio of 23.52, a PEG ratio of 1.00 and a beta of 1.20. The firm's 50 day simple moving average is $165.34 and its two-hundred day simple moving average is $170.89.

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

Targa Resources Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TRGP. JPMorgan Chase & Co. boosted their target price on Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Mizuho cut their target price on shares of Targa Resources from $212.00 to $207.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Scotiabank restated an "outperform" rating on shares of Targa Resources in a report on Thursday, August 14th. Royal Bank Of Canada increased their price target 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. Finally, Wall Street Zen cut shares of Targa Resources from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.86.

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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