Steel Grove Capital Advisors LLC Has $1.15 Million Stock Position in Targa Resources, Inc. (NYSE:TRGP)

Steel Grove Capital Advisors LLC lessened its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,717 shares of the pipeline company’s stock after selling 95 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Targa Resources were worth $1,146,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Snowden Capital Advisors LLC raised its holdings in shares of Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 53 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Targa Resources by 1.3% during the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company’s stock worth $991,000 after acquiring an additional 62 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 67 shares during the period. Keybank National Association OH grew its position in shares of Targa Resources by 0.4% in the fourth quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the last quarter. Finally, Curated Wealth Partners LLC grew its position in shares of Targa Resources by 2.2% in the first quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company’s stock valued at $670,000 after purchasing an additional 73 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Trading Down 0.2%

TRGP opened at $169.35 on Thursday. The stock has a market capitalization of $36.74 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 0.59 and a beta of 1.07. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. Targa Resources, Inc. has a twelve month low of $122.56 and a twelve month high of $218.51. The company has a 50-day simple moving average of $166.01 and a 200 day simple moving average of $183.62.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($1.13). The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. Analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TRGP shares. Truist Financial lifted their price target on Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. US Capital Advisors raised Targa Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Mizuho set a $212.00 price target on shares of Targa Resources and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped their price objective on shares of Targa Resources from $199.00 to $191.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, UBS Group cut their price objective on shares of Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, May 15th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $199.07.

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.