Targa Resources Corp. (NYSE:TRGP) Shares Purchased by Yousif Capital Management LLC

Yousif Capital Management LLC raised its holdings in Targa Resources Corp. (NYSE:TRGP) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,572 shares of the pipeline company’s stock after acquiring an additional 1,385 shares during the period. Yousif Capital Management LLC’s holdings in Targa Resources were worth $5,928,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TRGP. Americana Partners LLC increased its holdings in shares of Targa Resources by 554.6% in the fourth quarter. Americana Partners LLC now owns 73,136 shares of the pipeline company’s stock valued at $13,055,000 after purchasing an additional 61,964 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Targa Resources by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 79,794 shares of the pipeline company’s stock valued at $14,152,000 after buying an additional 2,087 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Targa Resources in the 4th quarter worth $88,000. Commonwealth Equity Services LLC raised its holdings in shares of Targa Resources by 30.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company’s stock worth $5,002,000 after acquiring an additional 6,589 shares during the period. Finally, West Michigan Advisors LLC acquired a new position in shares of Targa Resources during the 4th quarter valued at about $579,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

TRGP has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. The Goldman Sachs Group dropped their price target on shares of Targa Resources from $218.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Mizuho set a $212.00 price target on shares of Targa Resources and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Barclays decreased their price objective on Targa Resources from $206.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, May 20th. Finally, UBS Group lowered their price objective on Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $199.07.

Targa Resources Trading Up 2.8%

Shares of NYSE TRGP opened at $169.75 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $36.82 billion, a PE ratio of 29.57, a PEG ratio of 0.61 and a beta of 1.07. Targa Resources Corp. has a twelve month low of $118.93 and a twelve month high of $218.51. The stock has a fifty day simple moving average of $165.58 and a 200-day simple moving average of $184.71.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.13). The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $1.00 dividend. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources’s dividend payout ratio (DPR) is 73.66%.

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.