Los Angeles Capital Management LLC Raises Holdings in Targa Resources, Inc. (NYSE:TRGP)

Los Angeles Capital Management LLC boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,058 shares of the pipeline company's stock after acquiring an additional 45,979 shares during the quarter. Los Angeles Capital Management LLC owned 0.24% of Targa Resources worth $103,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TRGP. Cornerstone Planning Group LLC increased its holdings in shares of Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock worth $26,000 after purchasing an additional 110 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Targa Resources by 5,400.0% in the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Targa Resources in the 4th quarter worth $31,000. Ameriflex Group Inc. bought a new stake in shares of Targa Resources in the 4th quarter worth $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Targa Resources in the 4th quarter worth $32,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TRGP shares. UBS Group decreased their price target on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. TD Cowen initiated coverage on Targa Resources in a report on Monday, July 7th. They issued a "hold" rating and a $192.00 target price on the stock. Mizuho set a $212.00 price objective on Targa Resources and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, Barclays raised their price objective 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 equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $209.86.

Targa Resources Price Performance

NYSE TRGP opened at $171.24 on Friday. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The stock's fifty day moving average price is $167.58 and its 200 day moving average price is $181.73. Targa Resources, Inc. has a 1 year low of $122.56 and a 1 year high of $218.51. The company has a market cap of $37.15 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.12 and a beta of 1.07.

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 the consensus estimate of $2.04 by ($1.13). The firm 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%. As a group, equities research analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, July 31st. This is an increase from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's dividend payout ratio (DPR) is 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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