Realta Investment Advisors Purchases 186 Shares of Targa Resources Corp. (NYSE:TRGP)

Realta Investment Advisors raised its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,655 shares of the pipeline company’s stock after acquiring an additional 186 shares during the period. Realta Investment Advisors’ holdings in Targa Resources were worth $308,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. DT Investment Partners LLC bought a new position in shares of Targa Resources during the 3rd quarter valued at $29,000. Prospera Private Wealth LLC purchased a new stake in Targa Resources during the third quarter valued at about $35,000. Rosenberg Matthew Hamilton grew its stake in shares of Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after buying an additional 89 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Targa Resources by 39.6% in the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock worth $67,000 after buying an additional 106 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after acquiring an additional 89 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRGP. The Goldman Sachs Group raised their price target on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley raised their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus upped their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Scotiabank initiated coverage on shares of Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Performance

Targa Resources stock opened at $201.30 on Friday. Targa Resources Corp. has a fifty-two week low of $86.56 and a fifty-two week high of $218.51. The stock has a market cap of $43.90 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 0.59 and a beta of 2.29. The stock’s 50 day simple moving average is $193.13 and its two-hundred day simple moving average is $170.46. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, analysts expect that Targa Resources Corp. will post 6.41 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, January 31st. Targa Resources’s dividend payout ratio is presently 54.25%.

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.