Trilogy Capital Inc. Acquires New Stake in Targa Resources, Inc. $TRGP

Trilogy Capital Inc. bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP) during the 2nd quarter, Holdings Channel.com reports. The firm bought 14,259 shares of the pipeline company’s stock, valued at approximately $2,482,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Targa Resources by 1.6% during the first quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company’s stock worth $5,529,820,000 after buying an additional 423,667 shares during the period. Wellington Management Group LLP lifted its position in Targa Resources by 7.5% during the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company’s stock worth $2,764,673,000 after buying an additional 962,631 shares during the period. Invesco Ltd. lifted its position in Targa Resources by 3.2% during the first quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company’s stock worth $915,338,000 after buying an additional 139,780 shares during the period. GQG Partners LLC lifted its position in Targa Resources by 64.0% during the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company’s stock worth $724,560,000 after buying an additional 1,410,747 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Targa Resources by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,834,418 shares of the pipeline company’s stock worth $568,217,000 after buying an additional 77,999 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRGP has been the topic of several recent analyst reports. Barclays increased their target price on Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. BMO Capital Markets started coverage on Targa Resources in a research report on Friday, September 19th. They set an “outperform” rating and a $185.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $205.00 price objective (up from $198.00) on shares of Targa Resources in a report on Friday, August 8th. Royal Bank Of Canada raised 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. Finally, Mizuho cut their price objective on Targa Resources from $212.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.27.

Targa Resources Stock Performance

Targa Resources stock opened at $168.10 on Thursday. The stock’s 50-day moving average is $165.61 and its 200-day moving average is $169.78. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.12. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. Targa Resources, Inc. has a 12 month low of $150.00 and a 12 month high of $218.51.

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

Targa Resources Increases Dividend

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

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.