Oak Thistle LLC Purchases 2,494 Shares of Targa Resources, Inc. (NYSE:TRGP)

Oak Thistle LLC increased its holdings in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,752 shares of the pipeline company's stock after buying an additional 2,494 shares during the period. Oak Thistle LLC's holdings in Targa Resources were worth $2,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Targa Resources during the fourth quarter valued at approximately $505,132,000. GQG Partners LLC purchased a new position in Targa Resources in the 4th quarter worth $393,335,000. Canada Pension Plan Investment Board lifted its stake in Targa Resources by 981.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after purchasing an additional 1,038,350 shares during the last quarter. GAMMA Investing LLC boosted its position in Targa Resources by 22,699.0% during the first quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock valued at $186,112,000 after buying an additional 924,305 shares during the period. Finally, TD Asset Management Inc. grew its stake in shares of Targa Resources by 568.7% during the fourth quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after buying an additional 825,267 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

TRGP has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. 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 research note on Thursday, May 15th. Scotiabank reiterated an "outperform" rating on shares of Targa Resources in a report on Tuesday, July 15th. Mizuho set a $212.00 target price on shares of Targa Resources and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Targa Resources from $189.00 to $209.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $209.86.

Targa Resources Stock Up 0.5%

Shares of TRGP traded up $0.80 on Thursday, hitting $165.72. 1,448,257 shares of the stock traded hands, compared to its average volume of 1,913,110. The company has a market capitalization of $35.95 billion, a PE ratio of 30.52, a P/E/G ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. The business has a 50 day simple moving average of $167.30 and a 200 day simple moving average of $181.31. Targa Resources, Inc. has a one year low of $122.56 and a one year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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). Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. As a group, equities analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's payout ratio 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.