MBB Public Markets I LLC Takes $320,000 Position in Targa Resources, Inc. $TRGP

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MBB Public Markets I LLC bought a new stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,596 shares of the pipeline company's stock, valued at approximately $320,000.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Targa Resources by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company's stock valued at $5,529,820,000 after acquiring an additional 423,667 shares during the period. Wellington Management Group LLP boosted its holdings in Targa Resources by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company's stock worth $2,764,673,000 after buying an additional 962,631 shares during the last quarter. Invesco Ltd. boosted its holdings in Targa Resources by 3.2% in the 1st quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company's stock worth $915,338,000 after buying an additional 139,780 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Targa Resources by 64.0% during the 1st quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company's stock worth $724,560,000 after purchasing an additional 1,410,747 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Targa Resources by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,834,418 shares of the pipeline company's stock worth $568,217,000 after purchasing an additional 77,999 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Up 0.5%

Targa Resources stock opened at $161.36 on Wednesday. Targa Resources, Inc. has a twelve month low of $142.11 and a twelve month high of $218.51. The stock's fifty day simple moving average is $166.37 and its 200-day simple moving average is $172.08. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $34.72 billion, a P/E ratio of 22.82, a P/E/G ratio of 0.98 and a beta of 1.20.

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

Targa Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a dividend of $1.00 per share. 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 dividend payout ratio is currently 56.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TRGP shares. Wells Fargo & Company reiterated an "overweight" rating and set a $205.00 price target (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Royal Bank Of Canada upped their price objective on Targa Resources from $205.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Cfra Research upgraded Targa Resources to a "hold" rating in a report on Friday, August 8th. Barclays upped their price objective on Targa Resources from $178.00 to $195.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently 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.

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