Samalin Investment Counsel LLC Makes New $219,000 Investment in Targa Resources, Inc. $TRGP

Samalin Investment Counsel LLC purchased a new stake in Targa Resources, Inc. (NYSE:TRGP) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,094 shares of the pipeline company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its holdings in Targa Resources by 578.9% in the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Targa Resources in the 4th quarter worth approximately $31,000. Colonial Trust Co SC boosted its stake in shares of Targa Resources by 5,400.0% in the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Targa Resources during the fourth quarter worth $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Targa Resources during the fourth quarter worth $32,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Trading Up 1.3%

NYSE TRGP opened at $165.16 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 5.93. Targa Resources, Inc. has a 52 week low of $142.11 and a 52 week high of $218.51. The business has a 50 day moving average price of $167.50 and a 200-day moving average price of $174.81. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.00 and a beta of 1.12.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.92. The business had revenue of $4.26 billion during 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, equities analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $1.00 per share. This is an increase from Targa Resources’s previous quarterly dividend of $0.12. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 31st. Targa Resources’s dividend payout ratio is 56.58%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup cut their price target on shares of Targa Resources from $227.00 to $197.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Barclays upped their target price on Targa Resources from $178.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. UBS Group decreased their target price on Targa Resources from $259.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Wall Street Zen raised Targa Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. Finally, Mizuho set a $212.00 price target on Targa Resources and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.21.

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.