Dynamic Advisor Solutions LLC Invests $544,000 in Targa Resources, Inc. (NYSE:TRGP)

Dynamic Advisor Solutions LLC acquired a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,716 shares of the pipeline company’s stock, valued at approximately $544,000.

A number of other large investors also recently modified their holdings of TRGP. Vanguard Group Inc. boosted its position in Targa Resources by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company’s stock valued at $4,848,169,000 after buying an additional 150,038 shares during the period. Geode Capital Management LLC boosted its holdings in Targa Resources by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company’s stock valued at $1,056,187,000 after acquiring an additional 212,986 shares during the period. Norges Bank bought a new position in Targa Resources during the 4th quarter worth approximately $505,132,000. Price T Rowe Associates Inc. MD increased its stake in Targa Resources by 2.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company’s stock worth $492,022,000 after purchasing an additional 53,853 shares during the period. Finally, GQG Partners LLC bought a new stake in Targa Resources in the fourth quarter valued at approximately $393,335,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TRGP shares. Wells Fargo & Company raised their target price on shares of Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. UBS Group cut their price target on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. Scotiabank upped their price objective on shares of Targa Resources from $193.00 to $197.00 and gave the company a “sector outperform” rating in a research note on Thursday, June 5th. 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, 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 report on Monday, May 5th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $199.07.

Targa Resources Stock Down 0.2%

TRGP stock opened at $169.35 on Thursday. Targa Resources, Inc. has a fifty-two week low of $122.56 and a fifty-two week high of $218.51. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The business’s 50 day moving average price is $166.01 and its two-hundred day moving average price is $183.62. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. As a group, analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $1.00 dividend. This represents a dividend yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources’s dividend payout ratio is presently 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.