U.S. Capital Wealth Advisors LLC Increases Holdings in Targa Resources, Inc. (NYSE:TRGP)

U.S. Capital Wealth Advisors LLC lifted its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,546 shares of the pipeline company's stock after buying an additional 5,468 shares during the quarter. Targa Resources comprises approximately 0.7% of U.S. Capital Wealth Advisors LLC's holdings, making the stock its 25th largest position. U.S. Capital Wealth Advisors LLC owned 0.05% of Targa Resources worth $22,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. lifted its position in Targa Resources by 25.1% during the 1st quarter. Bessemer Group Inc. now owns 2,466 shares of the pipeline company's stock valued at $494,000 after purchasing an additional 495 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Targa Resources by 48.1% in the first quarter. Oppenheimer & Co. Inc. now owns 2,535 shares of the pipeline company's stock valued at $508,000 after acquiring an additional 823 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of Targa Resources in the first quarter valued at about $544,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Targa Resources by 5.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,038 shares of the pipeline company's stock valued at $408,000 after acquiring an additional 111 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Targa Resources in the fourth quarter valued at about $88,000. Institutional investors own 92.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRGP. Mizuho set a $212.00 price objective on shares of Targa Resources and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $205.00 price objective (up previously from $191.00) on shares of Targa Resources in a research report on Thursday, June 26th. Scotiabank upped their price objective on shares of Targa Resources from $193.00 to $197.00 and gave the stock a "sector outperform" rating in a research report on Thursday, June 5th. Citigroup cut their price objective on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, TD Securities started coverage on Targa Resources in a research note on Monday. They set a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued 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 target price of $208.31.

Targa Resources Trading Up 0.6%

TRGP stock traded up $1.04 during trading on Tuesday, hitting $173.50. The company had a trading volume of 353,983 shares, compared to its average volume of 1,832,355. The business has a 50-day moving average of $166.24 and a 200-day moving average of $182.27. Targa Resources, Inc. has a one year low of $122.56 and a one year high of $218.51. The stock has a market cap of $37.64 billion, a PE ratio of 31.90, a PEG ratio of 0.62 and a beta of 1.07. 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 earnings per share (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 firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. Research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

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

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.