Coppell Advisory Solutions LLC Increases Holdings in Targa Resources, Inc. $TRGP

Key Points

• Coppell Advisory Solutions LLC significantly increased its stake in Targa Resources by 1,137.9%, owning 11,649 shares after purchasing an additional 10,708 shares, with a total value of approximately $2.34 million.
• Targa Resources declared a quarterly dividend of $1.00, marking a substantial increase from its previous dividend of $0.12, signaling strong financial performance with a dividend yield of 2.5%.
• Following earnings results indicating a strong EPS of $2.87 that exceeded analysts' expectations, Targa Resources is seeing favorable forecasts from analysts, maintaining an average rating of "Moderate Buy" with a target price of approximately $208.86.

Coppell Advisory Solutions LLC grew its holdings in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 1,137.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,649 shares of the pipeline company's stock after acquiring an additional 10,708 shares during the period. Coppell Advisory Solutions LLC's holdings in Targa Resources were worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of Targa Resources by 578.9% during the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock worth $26,000 after acquiring an additional 110 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in Targa Resources in the 4th quarter worth $31,000. Colonial Trust Co SC boosted its holdings in shares of Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Targa Resources in the fourth quarter worth about $32,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several research reports. Cfra Research raised Targa Resources to a "hold" rating in a report on Friday, August 8th. Wall Street Zen raised Targa Resources from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. JPMorgan Chase & Co. lifted their target price on Targa Resources from $189.00 to $209.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. UBS Group reduced their target price on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Finally, Mizuho reduced their target price on Targa Resources from $212.00 to $207.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $208.86.

Targa Resources Trading Up 0.7%

NYSE:TRGP traded up $1.14 during mid-day trading on Friday, hitting $166.38. 1,008,759 shares of the stock traded hands, compared to its average volume of 1,814,858. The stock has a market capitalization of $35.80 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.00 and a beta of 1.20. Targa Resources, Inc. has a 52 week low of $144.30 and a 52 week high of $218.51. The firm's 50 day moving average is $166.00 and its two-hundred day moving average is $171.79. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93.

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

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $1.00 per share. This is a positive change 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 2.4%. The ex-dividend date of this dividend was Thursday, July 31st. Targa Resources's payout ratio is currently 56.58%.

About Targa Resources

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.