Howard Capital Management Inc. Has $280,000 Stake in Targa Resources, Inc. $TRGP

Howard Capital Management Inc. lifted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 23.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,609 shares of the pipeline company’s stock after buying an additional 309 shares during the quarter. Howard Capital Management Inc.’s holdings in Targa Resources were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Advisory Alpha LLC grew its position in shares of Targa Resources by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 3,737 shares of the pipeline company’s stock worth $651,000 after buying an additional 172 shares during the period. Teacher Retirement System of Texas grew its position in shares of Targa Resources by 49.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 59,264 shares of the pipeline company’s stock worth $10,317,000 after buying an additional 19,694 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Targa Resources during the 2nd quarter worth approximately $525,000. Wealthfront Advisers LLC grew its position in Targa Resources by 3.4% in the 2nd quarter. Wealthfront Advisers LLC now owns 19,891 shares of the pipeline company’s stock valued at $3,463,000 after purchasing an additional 661 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Targa Resources by 19.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,686 shares of the pipeline company’s stock valued at $2,034,000 after purchasing an additional 1,928 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $151.39 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The company has a market capitalization of $32.58 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 0.91 and a beta of 1.12. The firm’s fifty day moving average price is $161.55 and its two-hundred day moving average price is $165.11. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.92. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is currently 56.58%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Targa Resources in a research report on Friday, September 19th. They issued an “outperform” rating and a $185.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Targa Resources from $205.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Wall Street Zen raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $205.00 price target (up previously from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.50.

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.