Dynamic Advisor Solutions LLC Makes New $544,000 Investment in Targa Resources, Inc. (NYSE:TRGP)

Dynamic Advisor Solutions LLC bought a new stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,716 shares of the pipeline company's stock, valued at approximately $544,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Targa Resources in the fourth quarter valued at about $88,000. Commonwealth Equity Services LLC increased its stake in shares of Targa Resources by 30.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock valued at $5,002,000 after acquiring an additional 6,589 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in shares of Targa Resources in the 4th quarter valued at approximately $579,000. Aptus Capital Advisors LLC bought a new position in Targa Resources during the 4th quarter worth approximately $338,000. Finally, PDS Planning Inc acquired a new position in Targa Resources during the fourth quarter valued at approximately $250,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. US Capital Advisors upgraded Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. UBS Group lowered their price target on Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Citigroup cut their price objective on Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wells Fargo & Company increased their target price on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has an average rating of "Buy" and an average target price of $199.07.

Targa Resources Stock Down 0.2%

Shares of NYSE TRGP traded down $0.30 during mid-day trading on Thursday, hitting $169.35. The company had a trading volume of 1,677,651 shares, compared to its average volume of 1,839,809. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. The firm has a 50-day simple moving average of $166.01 and a two-hundred day simple moving average of $183.62. The company has a market capitalization of $36.74 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. Targa Resources, Inc. has a one year low of $122.56 and a one year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. On average, equities analysts expect 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. Shareholders of record on Thursday, May 1st were given a dividend of $1.00 per share. This represents a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, April 30th. Targa Resources's dividend payout ratio (DPR) is currently 73.66%.

About Targa Resources

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.