KLP Kapitalforvaltning AS Acquires 2,700 Shares of Targa Resources, Inc. (NYSE:TRGP)

KLP Kapitalforvaltning AS raised its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,100 shares of the pipeline company's stock after buying an additional 2,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Targa Resources were worth $16,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TRGP. Snowden Capital Advisors LLC raised its position in Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock valued at $473,000 after buying an additional 53 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Targa Resources by 1.3% during the 1st quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock worth $991,000 after purchasing an additional 62 shares during the last quarter. Stratos Wealth Advisors LLC increased its position in shares of Targa Resources by 3.6% during the 1st quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company's stock worth $356,000 after purchasing an additional 62 shares during the last quarter. Curated Wealth Partners LLC increased its holdings in Targa Resources by 2.2% during the first quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock worth $670,000 after buying an additional 73 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Targa Resources by 0.8% during the fourth quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock worth $1,648,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Trading Up 0.0%

Shares of TRGP stock traded up $0.02 on Friday, hitting $165.66. The company had a trading volume of 1,280,951 shares, compared to its average volume of 1,908,596. The firm has a market cap of $35.94 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.07 and a beta of 1.07. The stock's 50-day moving average is $167.28 and its two-hundred day moving average is $181.18. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly 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). The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. On average, equities research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $1.00 per share. This is a positive change from Targa Resources's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.41%. Targa Resources's dividend payout ratio is presently 73.66%.

Analyst Ratings Changes

TRGP has been the topic of a number of recent analyst reports. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Scotiabank restated an "outperform" rating on shares of Targa Resources in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price target on Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and issued a $205.00 price target on shares of Targa Resources in a research note on Tuesday, July 15th. Finally, Barclays boosted their price target on Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of "Buy" and a consensus target price of $209.86.

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.