Inscription Capital LLC Makes New $4.68 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Inscription Capital LLC bought a new position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,348 shares of the pipeline company's stock, valued at approximately $4,681,000. Targa Resources makes up approximately 0.8% of Inscription Capital LLC's portfolio, making the stock its 25th biggest position.

A number of other institutional investors have also recently modified their holdings of TRGP. QRG Capital Management Inc. grew its stake in Targa Resources by 8.4% in the 1st quarter. QRG Capital Management Inc. now owns 9,224 shares of the pipeline company's stock valued at $1,849,000 after acquiring an additional 712 shares during the period. Sagespring Wealth Partners LLC grew its position in shares of Targa Resources by 18.4% in the first quarter. Sagespring Wealth Partners LLC now owns 3,132 shares of the pipeline company's stock valued at $628,000 after purchasing an additional 486 shares during the period. Great Lakes Retirement Inc. increased its stake in shares of Targa Resources by 216.8% during the first quarter. Great Lakes Retirement Inc. now owns 11,140 shares of the pipeline company's stock worth $2,233,000 after purchasing an additional 7,624 shares in the last quarter. Brown Miller Wealth Management LLC purchased a new stake in shares of Targa Resources during the first quarter worth about $386,000. Finally, Brighton Jones LLC raised its position in shares of Targa Resources by 5.1% during the 1st quarter. Brighton Jones LLC now owns 2,003 shares of the pipeline company's stock worth $402,000 after purchasing an additional 98 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRGP. Wells Fargo & Company lifted their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Morgan Stanley boosted their price target on Targa Resources from $202.00 to $244.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Mizuho set a $212.00 price objective on Targa Resources and gave the company an "outperform" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group lowered their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus target price of $199.07.

Targa Resources Stock Performance

NYSE:TRGP opened at $171.46 on Tuesday. Targa Resources Corp. has a 1-year low of $119.00 and a 1-year high of $218.51. The firm has a market capitalization of $37.20 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 0.61 and a beta of 1.07. The company's 50-day moving average is $166.18 and its two-hundred day moving average is $183.82. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.01 billion. Analysts forecast that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

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

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