Kestra Private Wealth Services LLC Buys 5,206 Shares of Targa Resources, Inc. (NYSE:TRGP)

Kestra Private Wealth Services LLC increased its holdings in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 380.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,573 shares of the pipeline company's stock after acquiring an additional 5,206 shares during the period. Kestra Private Wealth Services LLC's holdings in Targa Resources were worth $1,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new stake in shares of Targa Resources during the 1st quarter worth $200,000. Commerzbank Aktiengesellschaft FI bought a new position in Targa Resources in the first quarter worth about $399,000. Bryn Mawr Capital Management LLC bought a new position in Targa Resources in the first quarter worth about $313,000. Bridgewater Advisors Inc. purchased a new stake in Targa Resources in the first quarter worth about $461,000. Finally, Larson Financial Group LLC grew its holdings in shares of Targa Resources by 8.5% during the first quarter. Larson Financial Group LLC now owns 1,440 shares of the pipeline company's stock valued at $289,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TRGP. TD Securities began coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a "hold" rating on the stock. The Goldman Sachs Group decreased their price target 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. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $205.00 target price on shares of Targa Resources in a research note on Tuesday, July 15th. Barclays lifted their price target on shares of Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Scotiabank restated an "outperform" rating on shares of Targa Resources in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $209.86.

Targa Resources Trading Down 0.4%

Shares of NYSE:TRGP opened at $162.72 on Wednesday. Targa Resources, Inc. has a 12-month low of $122.56 and a 12-month high of $218.51. The business's fifty day simple moving average is $167.58 and its 200-day simple moving average is $181.72. 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 company has a market capitalization of $35.30 billion, a PE ratio of 29.97, a P/E/G ratio of 1.07 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS 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 firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. As a group, equities research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid 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 dividend on an annualized basis and a yield of 2.46%. Targa Resources's dividend payout ratio (DPR) is currently 73.66%.

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.

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