1,936 Shares in Targa Resources, Inc. $TRGP Purchased by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. purchased a new stake in Targa Resources, Inc. (NYSE:TRGP), acquiring 1,936 shares valued at approximately $388,000 during the first quarter.
• Multiple large investors have significantly increased their holdings in Targa Resources, with Cornerstone Planning Group LLC raising its stake by 578.9% and Colonial Trust Co SC by 5,400.0%.
• Targa Resources recently declared a quarterly dividend of $1.00, representing a notable increase from its previous dividend, with a current yield of 2.4%.

Landscape Capital Management L.L.C. bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,936 shares of the pipeline company's stock, valued at approximately $388,000.

Several other large investors have also recently added to or reduced their stakes in TRGP. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Targa Resources in the 4th quarter worth about $8,823,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Targa Resources by 7.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,128 shares of the pipeline company's stock worth $2,343,000 after purchasing an additional 953 shares during the period. AXA S.A. raised its holdings in shares of Targa Resources by 28.6% in the 4th quarter. AXA S.A. now owns 22,807 shares of the pipeline company's stock worth $4,071,000 after purchasing an additional 5,073 shares during the period. Aptus Capital Advisors LLC purchased a new position in shares of Targa Resources in the 4th quarter worth about $338,000. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Targa Resources by 0.8% during the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock valued at $1,648,000 after buying an additional 74 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Stock Performance

Targa Resources stock traded down $4.08 during mid-day trading on Friday, hitting $162.46. 1,029,471 shares of the company's stock traded hands, compared to its average volume of 1,827,575. The firm has a 50 day moving average price of $167.10 and a 200 day moving average price of $173.25. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. The company has a market cap of $34.96 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. Targa Resources, Inc. has a one year low of $142.11 and a one year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.92. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. On average, equities analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $1.00 dividend. This is an increase from Targa Resources's previous quarterly dividend of $0.12. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 31st. Targa Resources's payout ratio is presently 56.58%.

Analyst Ratings Changes

TRGP has been the topic of several analyst reports. Royal Bank Of Canada raised their target price on Targa Resources from $205.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. TD Cowen initiated coverage on Targa Resources in a research note on Monday, July 7th. They set a "hold" rating and a $192.00 price objective for the company. Wall Street Zen upgraded Targa Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, Wells Fargo & Company restated an "overweight" rating and set a $205.00 price objective (up previously from $198.00) on shares of Targa Resources in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Targa Resources has an average rating of "Moderate Buy" and a consensus price target of $208.86.

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.