Targa Resources (NYSE:TRGP) Price Target Increased to $130.00 by Analysts at Stifel Nicolaus

Targa Resources (NYSE:TRGP - Free Report) had its price objective lifted by Stifel Nicolaus from $111.00 to $130.00 in a research note released on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the pipeline company's stock.

A number of other research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Targa Resources from $116.00 to $122.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Scotiabank lifted their price target on shares of Targa Resources from $112.00 to $128.00 and gave the stock a sector outperform rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of Targa Resources from $105.00 to $117.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Citigroup lifted their price target on shares of Targa Resources from $104.00 to $112.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $122.00 to $125.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $117.92.

Targa Resources Stock Down 0.2 %

Shares of TRGP stock traded down $0.27 during trading on Tuesday, reaching $114.07. The company's stock had a trading volume of 2,175,448 shares, compared to its average volume of 1,745,618. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The company has a market capitalization of $25.39 billion, a price-to-earnings ratio of 31.08 and a beta of 2.21. The stock's 50-day moving average price is $104.36 and its 200 day moving average price is $92.21. Targa Resources has a 1-year low of $67.36 and a 1-year high of $117.61.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.26). The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, research analysts anticipate that Targa Resources will post 5.75 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from Targa Resources's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, April 29th. Targa Resources's payout ratio is presently 54.50%.

Insider Activity

In other news, insider D. Scott Pryor sold 10,000 shares of Targa Resources stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the transaction, the insider now directly owns 156,098 shares of the company's stock, valued at approximately $15,141,506. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Targa Resources news, CFO Jennifer R. Kneale sold 26,061 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.36, for a total value of $2,537,298.96. Following the transaction, the chief financial officer now directly owns 227,663 shares of the company's stock, valued at approximately $22,165,269.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider D. Scott Pryor sold 10,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the transaction, the insider now directly owns 156,098 shares in the company, valued at $15,141,506. The disclosure for this sale can be found here. Insiders have sold 81,966 shares of company stock valued at $7,987,215 in the last ninety days. 1.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Targa Resources

Institutional investors have recently bought and sold shares of the company. Addison Advisors LLC acquired a new position in shares of Targa Resources during the 4th quarter worth $27,000. Harbour Investments Inc. grew its stake in shares of Targa Resources by 51.3% during the 3rd quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company's stock worth $31,000 after purchasing an additional 121 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company's stock worth $34,000 after purchasing an additional 209 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of Targa Resources in the 1st quarter worth about $45,000. Finally, Quarry LP purchased a new stake in shares of Targa Resources in the 1st quarter worth about $33,000. 92.13% of the stock is owned by institutional investors and hedge funds.

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.