Dorsey Wright & Associates Grows Stock Holdings in Targa Resources, Inc. (NYSE:TRGP)

Dorsey Wright & Associates boosted its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,966 shares of the pipeline company's stock after purchasing an additional 2,919 shares during the period. Targa Resources comprises 2.4% of Dorsey Wright & Associates' holdings, making the stock its 4th largest position. Dorsey Wright & Associates' holdings in Targa Resources were worth $9,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRGP. Geode Capital Management LLC grew its holdings in shares of Targa Resources by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock valued at $1,056,187,000 after acquiring an additional 212,986 shares in the last quarter. Norges Bank acquired a new stake in Targa Resources in the fourth quarter valued at $505,132,000. Price T Rowe Associates Inc. MD grew its position in shares of Targa Resources by 2.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company's stock valued at $492,022,000 after acquiring an additional 53,853 shares during the period. Northern Trust Corp increased its stake in shares of Targa Resources by 8.5% during the 4th quarter. Northern Trust Corp now owns 2,191,307 shares of the pipeline company's stock worth $391,148,000 after purchasing an additional 170,755 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Targa Resources by 22.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,955,316 shares of the pipeline company's stock valued at $349,024,000 after purchasing an additional 353,165 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TRGP. Royal Bank Of Canada reiterated an "outperform" rating and set a $205.00 price target on shares of Targa Resources in a report on Tuesday, July 15th. Citigroup reduced their target price on Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Barclays increased their price target on Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group reduced their price objective 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, JPMorgan Chase & Co. increased their price objective on shares of Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $209.86.

Targa Resources Stock Performance

NYSE TRGP traded up $0.80 during trading on Thursday, reaching $165.72. The company's stock had a trading volume of 1,448,257 shares, compared to its average volume of 1,362,756. The firm has a 50 day moving average price of $167.28 and a 200 day moving average price of $181.18. Targa Resources, Inc. has a 12 month low of $122.56 and a 12 month high of $218.51. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.07. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04.

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). The business had revenue of $4.56 billion during 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%. As a group, equities analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from Targa Resources's previous quarterly dividend of $0.12. This represents a $4.00 annualized dividend and a yield of 2.41%. Targa Resources's 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.