RPS Advisory Solutions LLC Invests $595,000 in Targa Resources Corp. (NYSE:TRGP)

RPS Advisory Solutions LLC bought a new stake in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,336 shares of the pipeline company’s stock, valued at approximately $595,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after acquiring an additional 633,589 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock valued at $89,413,000 after purchasing an additional 259,776 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Targa Resources by 599.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock worth $42,619,000 after purchasing an additional 246,762 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Targa Resources by 14,163.5% during the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company’s stock worth $30,232,000 after buying an additional 202,822 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in Targa Resources by 1,904.8% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company’s stock valued at $29,596,000 after buying an additional 189,984 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price objective 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. Finally, UBS Group upped their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $196.07.

Targa Resources Trading Down 2.6 %

NYSE TRGP opened at $204.93 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock’s 50-day moving average is $195.20 and its 200-day moving average is $175.21. Targa Resources Corp. has a one year low of $95.88 and a one year high of $218.51. The firm has a market cap of $44.69 billion, a P/E ratio of 37.06, a P/E/G ratio of 0.62 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. Sell-side analysts anticipate that Targa Resources Corp. will post 6.36 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.46%. Targa Resources’s dividend payout ratio is currently 54.25%.

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.