Campbell & CO Investment Adviser LLC Makes New Investment in Targa Resources, Inc. $TRGP

Campbell & CO Investment Adviser LLC bought a new position in Targa Resources, Inc. (NYSE:TRGP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,903 shares of the pipeline company’s stock, valued at approximately $331,000.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Targa Resources by 7.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 409,432 shares of the pipeline company’s stock valued at $71,274,000 after acquiring an additional 28,978 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Targa Resources by 10.9% in the second quarter. Parkside Financial Bank & Trust now owns 805 shares of the pipeline company’s stock worth $140,000 after purchasing an additional 79 shares during the last quarter. Freemont Management S.A. lifted its holdings in shares of Targa Resources by 30.7% during the second quarter. Freemont Management S.A. now owns 26,400 shares of the pipeline company’s stock valued at $4,596,000 after purchasing an additional 6,200 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Targa Resources during the second quarter valued at $1,729,000. Finally, Metis Global Partners LLC boosted its position in shares of Targa Resources by 12.2% during the second quarter. Metis Global Partners LLC now owns 27,644 shares of the pipeline company’s stock valued at $4,812,000 after buying an additional 3,012 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Up 1.9%

Shares of TRGP stock opened at $173.00 on Monday. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The company has a market cap of $37.13 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 0.91 and a beta of 1.16. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51. The firm has a fifty day moving average price of $161.75 and a 200-day moving average price of $164.47.

Targa Resources (NYSE:TRGP) last released its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.02). The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, equities analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s dividend payout ratio is currently 53.19%.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Targa Resources in a research report on Wednesday, October 8th. Wells Fargo & Company restated an “overweight” rating and issued a $205.00 target price (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Finally, Scotiabank decreased their target price on shares of Targa Resources from $199.00 to $198.00 and set a “sector outperform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.86.

Targa Resources Company 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.