Los Angeles Capital Management LLC Has $72.71 Million Stake in Targa Resources, Inc. $TRGP

Los Angeles Capital Management LLC decreased its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,702 shares of the pipeline company’s stock after selling 100,356 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.19% of Targa Resources worth $72,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Targa Resources by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company’s stock worth $5,529,820,000 after acquiring an additional 423,667 shares during the last quarter. Wellington Management Group LLP increased its position in Targa Resources by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock valued at $2,764,673,000 after buying an additional 962,631 shares in the last quarter. Invesco Ltd. increased its stake in Targa Resources by 3.2% during the 1st quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company’s stock valued at $915,338,000 after purchasing an additional 139,780 shares in the last quarter. GQG Partners LLC lifted its position in Targa Resources by 64.0% in the 1st quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock valued at $724,560,000 after acquiring an additional 1,410,747 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Targa Resources by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,834,418 shares of the pipeline company’s stock valued at $568,217,000 after purchasing an additional 77,999 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRGP has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of Targa Resources in a research note on Thursday, August 14th. Wells Fargo & Company reiterated an “overweight” rating and issued a $205.00 price target (up from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Mizuho decreased their price target on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.50.

Targa Resources Trading Up 1.1%

Shares of TRGP opened at $171.81 on Friday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $218.51. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $36.97 billion, a P/E ratio of 24.30, a PEG ratio of 0.91 and a beta of 1.16. The firm’s 50-day moving average is $161.19 and its two-hundred day moving average is $164.76.

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

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s payout ratio is 53.19%.

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.