Los Angeles Capital Management LLC Buys 194,180 Shares of Targa Resources Corp. (NYSE:TRGP)

Los Angeles Capital Management LLC raised its stake in Targa Resources Corp. (NYSE:TRGP) by 69.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 472,079 shares of the pipeline company’s stock after buying an additional 194,180 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Targa Resources were worth $84,266,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Targa Resources by 78.8% in the fourth quarter. IFP Advisors Inc now owns 524 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 231 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $2,505,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $2,200,000. Pinnacle Financial Partners Inc raised its holdings in shares of Targa Resources by 32.6% in the fourth quarter. Pinnacle Financial Partners Inc now owns 2,970 shares of the pipeline company’s stock valued at $530,000 after purchasing an additional 731 shares during the last quarter. Finally, Oxbow Advisors LLC acquired a new stake in shares of Targa Resources in the fourth quarter valued at approximately $207,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.1 %

TRGP opened at $198.19 on Tuesday. Targa Resources Corp. has a twelve month low of $95.88 and a twelve month high of $218.51. The company has a 50-day simple moving average of $195.91 and a 200 day simple moving average of $176.53. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $43.22 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Analysts predict that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is currently 52.26%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRGP shares. Royal Bank of Canada boosted their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Mizuho boosted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group boosted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and an average price target of $203.77.

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.