Linscomb Wealth Inc. Acquires 125 Shares of Targa Resources, Inc. $TRGP

Linscomb Wealth Inc. boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,781 shares of the pipeline company’s stock after purchasing an additional 125 shares during the period. Linscomb Wealth Inc.’s holdings in Targa Resources were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRGP. Simon Quick Advisors LLC grew its stake in shares of Targa Resources by 29.6% during the 2nd quarter. Simon Quick Advisors LLC now owns 2,458 shares of the pipeline company’s stock valued at $428,000 after acquiring an additional 562 shares during the period. Amalgamated Bank lifted its holdings in Targa Resources by 2.8% during the second quarter. Amalgamated Bank now owns 47,404 shares of the pipeline company’s stock valued at $8,252,000 after purchasing an additional 1,309 shares in the last quarter. Assetmark Inc. boosted its position in shares of Targa Resources by 381.6% in the second quarter. Assetmark Inc. now owns 1,469 shares of the pipeline company’s stock worth $256,000 after purchasing an additional 1,164 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of Targa Resources by 12.5% in the second quarter. Premier Path Wealth Partners LLC now owns 1,939 shares of the pipeline company’s stock worth $338,000 after purchasing an additional 216 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Targa Resources by 13.1% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,248 shares of the pipeline company’s stock valued at $217,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $154.21 on Friday. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a 50 day moving average price of $161.37 and a 200-day moving average price of $165.03. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $218.51.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Equities analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. Targa Resources’s payout ratio is presently 56.58%.

Wall Street Analyst Weigh In

TRGP has been the subject of a number of analyst reports. Cfra Research upgraded Targa Resources to a “hold” rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price target on Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Mizuho dropped their price target on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. TD Securities began coverage on shares of Targa Resources in a research report on Monday, July 7th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company reissued 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

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.