Oxbow Advisors LLC Purchases New Stake in Targa Resources Corp. (NYSE:TRGP)

Oxbow Advisors LLC purchased a new stake in Targa Resources Corp. (NYSE:TRGP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,162 shares of the pipeline company’s stock, valued at approximately $207,000.

Other large investors have also added to or reduced their stakes in the company. DT Investment Partners LLC bought a new position in Targa Resources during the 3rd quarter worth $29,000. Aspect Partners LLC increased its position in Targa Resources by 144.4% during the 4th quarter. Aspect Partners LLC now owns 220 shares of the pipeline company’s stock worth $39,000 after buying an additional 130 shares during the period. Prospera Private Wealth LLC bought a new position in Targa Resources during the 3rd quarter worth $35,000. Rosenberg Matthew Hamilton increased its position in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after buying an additional 89 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in Targa Resources during the 4th quarter worth $49,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

NYSE:TRGP opened at $200.89 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $43.81 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. Targa Resources Corp. has a twelve month low of $95.88 and a twelve month high of $218.51. The stock’s 50-day simple moving average is $195.91 and its 200 day simple moving average is $175.92.

Targa Resources (NYSE:TRGP) last posted 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). The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.75 dividend. The ex-dividend date was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.49%. Targa Resources’s dividend payout ratio is presently 52.26%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRGP. Barclays increased their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Mizuho increased their target price on Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group increased their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stifel Nicolaus increased their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, US Capital Advisors lowered Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $203.77.

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.