Hennion & Walsh Asset Management Inc. Has $6.05 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Hennion & Walsh Asset Management Inc. boosted its stake in Targa Resources Corp. (NYSE:TRGP - Free Report) by 42.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,178 shares of the pipeline company's stock after acquiring an additional 8,929 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Targa Resources were worth $6,050,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TRGP. Colonial Trust Co SC boosted its holdings in Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Atala Financial Inc bought a new position in shares of Targa Resources during the fourth quarter worth about $31,000. Cary Street Partners Financial LLC bought a new stake in Targa Resources in the fourth quarter valued at about $31,000. Ameriflex Group Inc. acquired a new stake in Targa Resources during the fourth quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in Targa Resources during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Stock Up 2.0%

Shares of TRGP traded up $3.21 during trading hours on Thursday, reaching $163.89. The company's stock had a trading volume of 1,903,459 shares, compared to its average volume of 1,818,834. The company has a 50 day moving average of $168.02 and a two-hundred day moving average of $186.03. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $35.55 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 0.61 and a beta of 1.22. Targa Resources Corp. has a 1-year low of $115.82 and a 1-year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. As a group, 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 disclosed a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's payout ratio is 73.66%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Scotiabank lifted their target price on Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research note on Thursday. Royal Bank of Canada lowered their target price on Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Targa Resources presently has a consensus rating of "Buy" and an average target price of $199.07.

Targa Resources 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.