Trilogy Capital Inc. Takes $2.48 Million Position in Targa Resources, Inc. $TRGP

Key Points

• Trilogy Capital Inc. has acquired a new position in Targa Resources, Inc. worth approximately $2.48 million by purchasing 14,259 shares during the second quarter.
• Targa Resources recently increased its quarterly dividend to $1.00 per share, a notable rise from its previous dividend of $0.12, representing an annual yield of 2.4%.
• The company reported a significant earnings per share (EPS) of $2.87 for the last quarter, significantly exceeding analysts' expectations of $1.95.

Trilogy Capital Inc. bought a new stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,259 shares of the pipeline company's stock, valued at approximately $2,482,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRGP. Cornerstone Planning Group LLC grew its holdings in 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 period. Disciplina Capital Management LLC acquired a new position in Targa Resources during the first quarter worth $46,000. Olde Wealth Management LLC acquired a new position in Targa Resources during the first quarter worth $52,000. ST Germain D J Co. Inc. acquired a new position in Targa Resources during the first quarter worth $60,000. Finally, Wolff Wiese Magana LLC grew its holdings in Targa Resources by 376.2% during the first quarter. Wolff Wiese Magana LLC now owns 300 shares of the pipeline company's stock worth $60,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Targa Resources Stock Up 0.3%

Targa Resources stock opened at $168.10 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.12. Targa Resources, Inc. has a fifty-two week low of $150.00 and a fifty-two week high of $218.51. The stock's fifty day moving average is $165.61 and its two-hundred day moving average is $169.78.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. Analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRGP shares. TD Cowen started coverage on Targa Resources in a report on Monday, July 7th. They set a "hold" rating and a $192.00 price objective on the stock. Barclays upped their price objective on Targa Resources from $178.00 to $195.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. TD Securities initiated coverage on Targa Resources in a report on Monday, July 7th. They issued a "hold" rating on the stock. Cfra Research raised Targa Resources to a "hold" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised Targa Resources from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $207.27.

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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