GAMMA Investing LLC Has $186.11 Million Stake in Targa Resources Corp. (NYSE:TRGP)

GAMMA Investing LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 22,699.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 928,377 shares of the pipeline company's stock after acquiring an additional 924,305 shares during the quarter. GAMMA Investing LLC owned 0.43% of Targa Resources worth $186,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRGP. Snowden Capital Advisors LLC lifted its holdings 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 valued at $473,000 after purchasing an additional 53 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company's stock valued at $396,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Targa Resources by 2.3% during the fourth quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company's stock valued at $540,000 after purchasing an additional 68 shares during the last quarter. Keybank National Association OH lifted its stake in Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company's stock worth $3,470,000 after acquiring an additional 70 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its stake in Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock worth $1,648,000 after acquiring an additional 74 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Up 2.0%

TRGP traded up $3.21 on Thursday, hitting $163.89. 1,903,459 shares of the company were exchanged, compared to its average volume of 1,820,958. Targa Resources Corp. has a 12 month low of $116.73 and a 12 month high of $218.51. The company has a market cap of $35.55 billion, a PE ratio of 28.55, a PEG ratio of 0.61 and a beta of 1.22. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The stock's fifty day moving average is $167.29 and its 200-day moving average is $185.79.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. Equities research analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $1.00 dividend. This represents a dividend yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources's payout ratio is 73.66%.

Analyst Ratings Changes

Several brokerages recently issued reports on TRGP. Wells Fargo & Company increased their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Morgan Stanley increased their price objective on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Citigroup reduced their price objective 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. Scotiabank increased their price objective on Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Finally, Mizuho set a $212.00 price objective on Targa Resources and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $199.07.

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.