Segment Wealth Management LLC Has $11.81 Million Position in Targa Resources, Inc. (NYSE:TRGP)

Segment Wealth Management LLC boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,931 shares of the pipeline company's stock after purchasing an additional 3,603 shares during the period. Segment Wealth Management LLC's holdings in Targa Resources were worth $11,814,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TRGP. Colonial Trust Co SC increased its position in 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 during the last quarter. Atala Financial Inc acquired a new position in Targa Resources in the fourth quarter worth approximately $31,000. Cary Street Partners Financial LLC acquired a new position in Targa Resources in the fourth quarter worth approximately $31,000. Ameriflex Group Inc. bought a new position in Targa Resources during the fourth quarter valued at approximately $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Targa Resources in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. UBS Group lowered their target price on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Wells Fargo & Company boosted their price target on Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Barclays lowered their price target on Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a report on Tuesday, May 20th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $199.07.

Targa Resources Price Performance

Shares of TRGP stock opened at $169.35 on Friday. Targa Resources, Inc. has a 12 month low of $122.56 and a 12 month high of $218.51. The company has a market capitalization of $36.74 billion, a P/E ratio of 31.19, a P/E/G ratio of 0.59 and a beta of 1.07. The stock has a 50 day moving average of $166.15 and a two-hundred day moving average of $183.45. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04.

Targa Resources (NYSE:TRGP - Get Free Report) last issued 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). 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 analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is currently 73.66%.

Targa Resources Company 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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