Camelot Technology Advisors Inc. Sells 136 Shares of Targa Resources, Inc. $TRGP

Camelot Technology Advisors Inc. cut its position in Targa Resources, Inc. (NYSE:TRGP) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,857 shares of the pipeline company’s stock after selling 136 shares during the quarter. Targa Resources comprises about 1.8% of Camelot Technology Advisors Inc.’s portfolio, making the stock its 15th biggest holding. Camelot Technology Advisors Inc.’s holdings in Targa Resources were worth $2,064,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRGP. Focus Partners Wealth acquired a new position in Targa Resources in the 4th quarter valued at $273,000. Royal Bank of Canada raised its holdings in Targa Resources by 24.4% in the 4th quarter. Royal Bank of Canada now owns 446,309 shares of the pipeline company’s stock valued at $79,665,000 after acquiring an additional 87,485 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in 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 acquiring an additional 53 shares in the last quarter. Tidal Investments LLC raised its holdings in Targa Resources by 14.6% in the 4th quarter. Tidal Investments LLC now owns 15,552 shares of the pipeline company’s stock valued at $2,776,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Targa Resources by 52.9% in the 4th quarter. Two Sigma Investments LP now owns 187,422 shares of the pipeline company’s stock valued at $33,455,000 after acquiring an additional 64,855 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Down 0.2%

NYSE TRGP opened at $163.00 on Wednesday. The business’s 50-day moving average price is $165.44 and its two-hundred day moving average price is $170.93. Targa Resources, Inc. has a 12 month low of $144.30 and a 12 month high of $218.51. The firm has a market capitalization of $35.08 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.92. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. On average, analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 31st. This is a positive change from Targa Resources’s previous quarterly dividend of $0.12. Targa Resources’s dividend payout ratio is currently 56.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen cut Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday. TD Securities assumed coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating for the company. TD Cowen assumed coverage on Targa Resources in a report on Monday, July 7th. They issued a “hold” rating and a $192.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Targa Resources from $189.00 to $209.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $205.00 price target (up previously from $198.00) on shares of Targa Resources in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.86.

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.