Sustainable Insight Capital Management LLC Makes New $244,000 Investment in Targa Resources, Inc. $TRGP

Sustainable Insight Capital Management LLC acquired a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,400 shares of the pipeline company’s stock, valued at approximately $244,000.

A number of other hedge funds also recently made changes to their positions in the stock. Stratos Wealth Advisors LLC raised its stake in Targa Resources by 3.6% during the 1st quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock worth $356,000 after acquiring an additional 62 shares during the period. UMB Bank n.a. boosted its position in shares of Targa Resources by 11.9% in the second quarter. UMB Bank n.a. now owns 658 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 70 shares during the period. QRG Capital Management Inc. increased its stake in shares of Targa Resources by 0.8% in the second quarter. QRG Capital Management Inc. now owns 9,296 shares of the pipeline company’s stock worth $1,618,000 after purchasing an additional 72 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Targa Resources by 1.8% during the 1st quarter. D.A. Davidson & CO. now owns 4,267 shares of the pipeline company’s stock valued at $855,000 after purchasing an additional 74 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of Targa Resources by 6.1% during the 1st quarter. Proficio Capital Partners LLC now owns 1,373 shares of the pipeline company’s stock valued at $275,000 after buying an additional 79 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Up 4.5%

Shares of NYSE TRGP opened at $169.97 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $218.51. The firm’s 50-day moving average price is $161.11 and its 200-day moving average price is $164.71. The stock has a market capitalization of $36.58 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 0.91 and a beta of 1.16.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data 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). Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.70 billion. On average, equities research analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 31st. Targa Resources’s dividend payout ratio is presently 56.58%.

Analyst Ratings Changes

TRGP has been the subject of a number of analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price target (up previously from $198.00) on shares of Targa Resources in a research note on Friday, August 8th. Barclays increased their price objective on shares of Targa Resources from $178.00 to $195.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Stifel Nicolaus set a $213.00 target price on shares of Targa Resources in a report on Thursday. Royal Bank Of Canada upped their target price on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Finally, Mizuho reduced their price target on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.50.

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.