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

Sustainable Insight Capital Management LLC bought a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) during the second quarter, HoldingsChannel.com reports. The fund bought 1,400 shares of the pipeline company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRGP. Cornerstone Planning Group LLC boosted its holdings in Targa Resources by 578.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 110 shares during the period. Disciplina Capital Management LLC bought a new stake in shares of Targa Resources during the first quarter worth $46,000. Hilltop National Bank purchased a new stake in shares of Targa Resources during the second quarter valued at $63,000. Private Trust Co. NA grew its holdings in shares of Targa Resources by 57.1% in the second quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 173 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Targa Resources by 61.0% in the second quarter. Wolff Wiese Magana LLC now owns 483 shares of the pipeline company’s stock worth $84,000 after purchasing an additional 183 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRGP shares. Wall Street Zen raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Cfra Research raised shares of Targa Resources to a “hold” rating in a research note on Friday, August 8th. Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Targa Resources in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and a consensus price target of $209.50.

Targa Resources Stock Performance

Shares of TRGP stock opened at $169.97 on Friday. The firm has a market cap of $36.58 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 0.91 and a beta of 1.16. The company’s 50 day moving average is $161.11 and its 200 day moving average is $164.71. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. On average, sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Targa Resources’s dividend payout ratio (DPR) is presently 56.58%.

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.